Edgestream Partners L.P. bought a new stake in Eversource Energy (NYSE:ES) during the first quarter, according to its most recent filing with the SEC. The firm bought 13,308 shares of the utilities provider’s stock, valued at approximately $782,000.
Other hedge funds also recently made changes to their positions in the company. National Pension Service increased its stake in Eversource Energy by 5.0% in the first quarter. National Pension Service now owns 281,316 shares of the utilities provider’s stock worth $16,491,000 after buying an additional 13,452 shares during the period. Bank of Montreal Can increased its stake in Eversource Energy by 11.4% in the first quarter. Bank of Montreal Can now owns 482,160 shares of the utilities provider’s stock worth $28,342,000 after buying an additional 49,467 shares during the period. Teachers Advisors LLC increased its stake in Eversource Energy by 7.6% in the fourth quarter. Teachers Advisors LLC now owns 566,706 shares of the utilities provider’s stock worth $31,299,000 after buying an additional 39,988 shares during the period. Norges Bank acquired a new stake in Eversource Energy during the fourth quarter worth about $217,140,000. Finally, Parametrica Management Ltd acquired a new stake in Eversource Energy during the first quarter worth about $295,000. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Shares of Eversource Energy (NYSE:ES) traded up 0.45% during trading on Monday, reaching $62.53. 119,544 shares of the company were exchanged. The firm’s 50 day moving average price is $61.14 and its 200 day moving average price is $58.00. The company has a market capitalization of $19.81 billion, a PE ratio of 20.77 and a beta of 0.32. Eversource Energy has a one year low of $50.56 and a one year high of $63.34.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Eversource Energy had a net margin of 12.45% and a return on equity of 8.98%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.77 earnings per share. Equities research analysts forecast that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Wednesday, May 31st will be given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Friday, May 26th. Eversource Energy’s payout ratio is currently 63.12%.
A number of research firms have recently issued reports on ES. Zacks Investment Research upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a report on Wednesday, June 21st. Barclays PLC reiterated an “equal weight” rating and issued a $66.00 price objective (up from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. BMO Capital Markets lifted their price objective on shares of Eversource Energy from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Monday, May 15th. Morgan Stanley lifted their price objective on shares of Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $59.00 price objective on shares of Eversource Energy in a report on Tuesday, June 6th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $62.78.
In related news, VP Werner J. Schweiger sold 36,736 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total value of $2,277,632.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.
Eversource Energy Company Profile
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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