Andra AP fonden acquired a new stake in shares of Eversource Energy (NYSE:ES) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 83,300 shares of the utilities provider’s stock, valued at approximately $5,910,000.
A number of other hedge funds have also recently made changes to their positions in ES. Moors & Cabot Inc. boosted its holdings in shares of Eversource Energy by 98.8% in the first quarter. Moors & Cabot Inc. now owns 94,148 shares of the utilities provider’s stock worth $6,666,000 after buying an additional 46,790 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Eversource Energy by 1.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 130,650 shares of the utilities provider’s stock worth $8,497,000 after acquiring an additional 1,234 shares during the period. Centersquare Investment Management LLC raised its stake in Eversource Energy by 368,643.4% during the 1st quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 3,575,841 shares during the period. Magellan Asset Management Ltd raised its stake in Eversource Energy by 14.3% during the 4th quarter. Magellan Asset Management Ltd now owns 2,831,554 shares of the utilities provider’s stock worth $184,164,000 after acquiring an additional 354,280 shares during the period. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Eversource Energy by 262.6% during the fourth quarter. Susquehanna Fundamental Investments LLC now owns 41,700 shares of the utilities provider’s stock valued at $2,712,000 after buying an additional 30,200 shares during the last quarter. 73.73% of the stock is currently owned by institutional investors.
Several research firms have recently issued reports on ES. Zacks Investment Research upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 price objective on the stock in a research report on Monday, June 17th. KeyCorp initiated coverage on shares of Eversource Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 target price for the company. Morgan Stanley raised their target price on shares of Eversource Energy from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, June 14th. UBS Group raised their target price on shares of Eversource Energy from $81.00 to $85.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Credit Suisse Group set a $76.00 target price on shares of Eversource Energy and gave the company a “buy” rating in a report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $74.17.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.06. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.26 billion. Eversource Energy had a net margin of 12.50% and a return on equity of 9.43%. The business’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, research analysts forecast that Eversource Energy will post 3.46 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 23rd were issued a $0.535 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $2.14 annualized dividend and a dividend yield of 2.78%. Eversource Energy’s payout ratio is currently 65.24%.
In related news, EVP Leon J. Olivier sold 7,000 shares of Eversource Energy stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $72.95, for a total value of $510,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.37% of the company’s stock.
Eversource Energy Company 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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