Fiduciary Trust Co. trimmed its position in shares of Eversource Energy (NYSE:ES) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,557 shares of the utilities provider’s stock after selling 493 shares during the quarter. Fiduciary Trust Co.’s holdings in Eversource Energy were worth $702,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of ES. Nationwide Fund Advisors lifted its position in Eversource Energy by 32.4% in the 1st quarter. Nationwide Fund Advisors now owns 150,878 shares of the utilities provider’s stock valued at $8,869,000 after acquiring an additional 36,948 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Eversource Energy in the 1st quarter valued at $112,000. Commerzbank Aktiengesellschaft FI increased its stake in Eversource Energy by 58.0% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 10,528 shares of the utilities provider’s stock valued at $619,000 after buying an additional 3,865 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Eversource Energy by 44.4% in the 1st quarter. Advisors Asset Management Inc. now owns 9,716 shares of the utilities provider’s stock valued at $571,000 after buying an additional 2,989 shares during the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in Eversource Energy by 10.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 8,930 shares of the utilities provider’s stock valued at $525,000 after buying an additional 850 shares during the last quarter. 72.49% of the stock is currently owned by institutional investors and hedge funds.
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ES has been the topic of several recent analyst reports. 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 research note on Wednesday, June 21st. Morgan Stanley reiterated an “equal weight” rating on shares of Eversource Energy in a research note on Tuesday, July 11th. Credit Suisse Group reiterated a “hold” rating and issued a $59.00 price target on shares of Eversource Energy in a research note on Tuesday, June 6th. BidaskClub lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $66.00 price target (up previously from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.95.
Shares of Eversource Energy (NYSE ES) traded down 0.51% during mid-day trading on Friday, hitting $62.73. 794,566 shares of the stock were exchanged. The stock has a market capitalization of $19.88 billion, a price-to-earnings ratio of 20.30 and a beta of 0.29. The stock’s 50-day moving average is $62.44 and its 200-day moving average is $60.76. Eversource Energy has a 52 week low of $50.56 and a 52 week high of $64.19.
Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period last year, the company earned $0.64 earnings per share. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts forecast that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $0.475 per share. The ex-dividend date is Monday, September 18th. This represents a $1.90 annualized dividend and a dividend yield of 3.01%. Eversource Energy’s dividend payout ratio is currently 61.49%.
Eversource Energy 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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