Bank of The West reduced its position in shares of Eversource Energy (NYSE:ES) by 1.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,824 shares of the utilities provider’s stock after selling 452 shares during the period. Bank of The West’s holdings in Eversource Energy were worth $1,871,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of ES. 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 in the last quarter. Brookfield Asset Management Inc. purchased a new stake in shares of Eversource Energy during the first quarter worth approximately $106,000. 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 in the last quarter. KCG Holdings Inc. raised its stake in shares of Eversource Energy by 78.9% in the first quarter. KCG Holdings Inc. now owns 23,680 shares of the utilities provider’s stock worth $1,392,000 after buying an additional 10,443 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new stake in shares of Eversource Energy during the first quarter worth approximately $9,867,000. Hedge funds and other institutional investors own 71.03% of the company’s stock.
Eversource Energy (NYSE ES) traded up 0.52% on Wednesday, reaching $60.13. The company had a trading volume of 656,477 shares. The company has a market capitalization of $19.05 billion, a PE ratio of 19.98 and a beta of 0.29. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $63.34. The company’s 50-day moving average is $61.66 and its 200-day moving average is $58.39.
Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, May 4th. The utilities provider reported $0.82 EPS for the quarter, missing the Zacks’ consensus estimate of $0.83 by $0.01. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.12 billion. Eversource Energy had a return on equity of 8.98% and a net margin of 12.45%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Equities analysts anticipate that Eversource Energy will post $3.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st were given a dividend of $0.475 per share. The ex-dividend date was Friday, May 26th. This represents a $1.90 dividend on an annualized basis and a yield of 3.18%. Eversource Energy’s payout ratio is 63.12%.
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ES has been the topic of several recent research reports. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, April 4th. Credit Suisse Group restated a “hold” rating and issued a $59.00 price objective on shares of Eversource Energy in a research report on Tuesday, June 6th. Morgan Stanley upped their price objective on Eversource Energy from $63.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 6th. Barclays PLC restated an “equal weight” rating and issued a $66.00 price objective (up previously from $62.00) on shares of Eversource Energy in a research report on Thursday, June 1st. Finally, BMO Capital Markets upped their price objective on Eversource Energy from $57.00 to $61.00 and gave the stock a “market perform” rating in a research report on Monday, May 15th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $62.78.
In other Eversource Energy news, VP Werner J. Schweiger sold 36,736 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $2,277,632.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is currently owned by insiders.
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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