Sei Investments Co. boosted its position in shares of Eversource Energy (NYSE:ES) by 9.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,542 shares of the utilities provider’s stock after buying an additional 14,391 shares during the period. Sei Investments Co.’s holdings in Eversource Energy were worth $10,201,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. Highbridge Capital Management LLC raised its stake in shares of Eversource Energy by 37.0% in the third quarter. Highbridge Capital Management LLC now owns 216,565 shares of the utilities provider’s stock worth $11,733,000 after buying an additional 58,537 shares during the period. National Pension Service raised its stake in shares of 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 raised its stake in shares of 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. First Republic Investment Management Inc. raised its stake in shares of Eversource Energy by 3.5% in the fourth quarter. First Republic Investment Management Inc. now owns 22,623 shares of the utilities provider’s stock worth $1,249,000 after buying an additional 769 shares during the period. Finally, Commonwealth Bank of Australia raised its stake in shares of Eversource Energy by 20.9% in the third quarter. Commonwealth Bank of Australia now owns 3,802,481 shares of the utilities provider’s stock worth $206,018,000 after buying an additional 658,123 shares during the period. Institutional investors own 70.28% of the company’s stock.
Eversource Energy (NYSE:ES) traded down 0.28% during trading on Friday, hitting $60.07. The stock had a trading volume of 1,005,979 shares. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $60.78. The firm has a market capitalization of $19.04 billion, a PE ratio of 19.96 and a beta of 0.32. The firm has a 50 day moving average price of $59.55 and a 200-day moving average price of $56.45.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.01. Eversource Energy had a return on equity of 8.61% and a net margin of 11.85%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the business posted $0.77 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts expect that Eversource Energy will post $3.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.90 dividend on an annualized basis and a yield of 3.15%. Eversource Energy’s payout ratio is currently 63.35%.
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ES has been the topic of several analyst reports. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, March 27th. Deutsche Bank AG upped their target price on Eversource Energy from $59.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Credit Suisse Group AG initiated coverage on Eversource Energy in a report on Wednesday, January 25th. They set a “neutral” rating and a $57.00 target price on the stock. Citigroup Inc upped their target price on Eversource Energy from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Finally, BMO Capital Markets upped their target price on Eversource Energy from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $60.75.
In other Eversource Energy news, VP Werner J. Schweiger sold 39,360 shares of the stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $60.00, for a total transaction of $2,361,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $58.28, for a total value of $366,114.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 193,073 shares of company stock valued at $11,333,968. Company insiders own 0.89% 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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