Securian Asset Management Inc grew its stake in shares of Eversource Energy (NYSE:ES) by 0.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,605 shares of the utilities provider’s stock after acquiring an additional 224 shares during the quarter. Securian Asset Management Inc’s holdings in Eversource Energy were worth $2,313,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in Eversource Energy in the 4th quarter worth about $166,695,000. Commonwealth Bank of Australia increased its holdings in Eversource Energy by 6,196.5% in the 4th quarter. Commonwealth Bank of Australia now owns 2,325,159 shares of the utilities provider’s stock worth $151,213,000 after buying an additional 2,288,231 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Eversource Energy by 6,323.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,217,214 shares of the utilities provider’s stock worth $34,000 after buying an additional 2,182,698 shares in the last quarter. American Century Companies Inc. increased its holdings in Eversource Energy by 35.7% in the 4th quarter. American Century Companies Inc. now owns 4,563,601 shares of the utilities provider’s stock worth $296,817,000 after buying an additional 1,200,309 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Eversource Energy by 2.4% in the 4th quarter. BlackRock Inc. now owns 28,130,030 shares of the utilities provider’s stock worth $1,829,577,000 after buying an additional 661,442 shares in the last quarter. Hedge funds and other institutional investors own 72.99% of the company’s stock.
Shares of ES stock traded up $0.04 during trading hours on Friday, reaching $74.88. 857,806 shares of the company traded hands, compared to its average volume of 1,246,759. Eversource Energy has a 12-month low of $52.76 and a 12-month high of $74.16. The company has a quick ratio of 0.44, a current ratio of 0.50 and a debt-to-equity ratio of 1.06. The stock has a market cap of $23.80 billion, a P/E ratio of 22.83, a PEG ratio of 3.85 and a beta of 0.31.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. Eversource Energy had a return on equity of 9.43% and a net margin of 12.50%. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts expect that Eversource Energy will post 3.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 23rd will be issued a $0.535 dividend. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.14 dividend on an annualized basis and a yield of 2.86%. Eversource Energy’s dividend payout ratio is presently 65.24%.
In other Eversource Energy news, CEO James J. Judge sold 79,508 shares of Eversource Energy stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $69.50, for a total value of $5,525,806.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Leon J. Olivier sold 7,000 shares of Eversource Energy stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $72.95, for a total value of $510,650.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 100,700 shares of company stock worth $7,012,040. 0.37% of the stock is owned by insiders.
Several research firms recently commented on ES. Zacks Investment Research downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Monday, March 25th. Credit Suisse Group set a $76.00 price objective on Eversource Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Guggenheim downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Friday, February 22nd. Scotiabank restated a “sell” rating and set a $63.00 price target on shares of Eversource Energy in a research note on Thursday, February 21st. Finally, Goldman Sachs Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $69.90.
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Eversource Energy Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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