BT Investment Management Ltd acquired a new stake in Eversource Energy (NYSE:ES) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 424,285 shares of the utilities provider’s stock, valued at approximately $25,758,000. BT Investment Management Ltd owned 0.13% of Eversource Energy as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of ES. BlackRock Inc. boosted its position in Eversource Energy by 2,396.3% during the 1st quarter. BlackRock Inc. now owns 23,980,820 shares of the utilities provider’s stock worth $1,409,592,000 after acquiring an additional 23,020,171 shares during the last quarter. Principal Financial Group Inc. boosted its position in Eversource Energy by 382.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,326,749 shares of the utilities provider’s stock worth $141,257,000 after acquiring an additional 1,844,447 shares during the last quarter. Magellan Asset Management Ltd acquired a new position in Eversource Energy during the 1st quarter worth approximately $82,000,000. Vanguard Group Inc. boosted its position in Eversource Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 32,273,965 shares of the utilities provider’s stock worth $1,897,064,000 after acquiring an additional 1,078,978 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Eversource Energy by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,626,800 shares of the utilities provider’s stock worth $95,623,000 after acquiring an additional 558,400 shares during the last quarter. Institutional investors and hedge funds own 72.49% of the company’s stock.
A number of research firms have weighed in on ES. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Morgan Stanley upped their price target on Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the stock a “buy” rating in a research report on Monday, July 31st. Deutsche Bank AG downgraded Eversource Energy from a “buy” rating to a “hold” rating and upped their price target for the stock from $61.00 to $61.50 in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, June 21st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.95.
Shares of Eversource Energy (NYSE:ES) traded down 0.4230% during midday trading on Friday, hitting $62.7833. The stock had a trading volume of 801,780 shares. Eversource Energy has a 52 week low of $50.56 and a 52 week high of $64.19. The company’s 50 day moving average is $62.44 and its 200 day moving average is $60.76. The firm has a market cap of $19.90 billion, a P/E ratio of 20.3182 and a beta of 0.29.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 earnings per share. On average, equities analysts predict that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Tuesday, September 19th will be given a dividend of $0.475 per share. The ex-dividend date is Monday, September 18th. This represents a $1.90 annualized dividend and a dividend yield of 3.01%. Eversource Energy’s payout ratio is 61.49%.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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