Engineers Gate Manager LP purchased a new stake in shares of Eversource Energy (NYSE:ES) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 22,644 shares of the utilities provider’s stock, valued at approximately $1,334,000.
Other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service lifted its position in shares of Eversource Energy by 3.2% during the 4th quarter. National Pension Service now owns 323,578 shares of the utilities provider’s stock valued at $20,444,000 after buying an additional 10,149 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in shares of Eversource Energy by 6.0% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,141,496 shares of the utilities provider’s stock valued at $72,120,000 after buying an additional 64,919 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Eversource Energy by 48.7% during the 4th quarter. State of Alaska Department of Revenue now owns 82,636 shares of the utilities provider’s stock valued at $5,218,000 after buying an additional 27,071 shares in the last quarter. Strs Ohio lifted its position in shares of Eversource Energy by 21.2% during the 4th quarter. Strs Ohio now owns 38,417 shares of the utilities provider’s stock valued at $2,427,000 after buying an additional 6,715 shares in the last quarter. Finally, Regentatlantic Capital LLC purchased a new position in shares of Eversource Energy during the 4th quarter valued at about $303,000. Institutional investors and hedge funds own 73.53% of the company’s stock.
NYSE ES opened at $57.32 on Friday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.61 and a current ratio of 0.68. Eversource Energy has a 12 month low of $55.93 and a 12 month high of $66.15. The company has a market capitalization of $18.16 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 3.07 and a beta of 0.31.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, May 3rd. The utilities provider reported $0.85 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.85. Eversource Energy had a return on equity of 9.04% and a net margin of 12.58%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.10 billion. During the same period in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. equities analysts forecast that Eversource Energy will post 3.25 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Thursday, May 24th will be issued a $0.505 dividend. The ex-dividend date of this dividend is Wednesday, May 23rd. This represents a $2.02 dividend on an annualized basis and a yield of 3.52%. Eversource Energy’s dividend payout ratio is presently 64.95%.
In related news, EVP Christine M. Carmody sold 21,500 shares of the business’s stock in a transaction that occurred on Monday, May 14th. The stock was sold at an average price of $57.79, for a total value of $1,242,485.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by insiders.
A number of research analysts have recently weighed in on the company. Bank of America lowered their price objective on Eversource Energy from $64.00 to $59.00 and set an “underperform” rating on the stock in a research report on Friday, February 2nd. UBS assumed coverage on Eversource Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $66.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and set a $64.00 price objective on shares of Eversource Energy in a research report on Friday, February 2nd. Wells Fargo reaffirmed an “outperform” rating and set a $65.00 price objective (down from $72.00) on shares of Eversource Energy in a research report on Monday, February 26th. Finally, Credit Suisse Group lifted their price objective on Eversource Energy from $59.00 to $61.00 and gave the company an “underperform” rating in a research report on Friday, May 4th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. Eversource Energy currently has an average rating of “Hold” and a consensus target price of $63.35.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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