Troy Asset Management Ltd lifted its position in Eversource Energy (NYSE:ES) by 13.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,500 shares of the utilities provider’s stock after acquiring an additional 5,750 shares during the quarter. Troy Asset Management Ltd’s holdings in Eversource Energy were worth $2,944,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. BB&T Securities LLC bought a new position in Eversource Energy in the second quarter worth about $1,033,000. Teacher Retirement System of Texas bought a new position in Eversource Energy in the second quarter worth about $200,000. Brookfield Asset Management Inc. bought a new position in Eversource Energy in the first quarter worth about $106,000. Lazard Asset Management LLC bought a new position in Eversource Energy in the first quarter worth about $9,867,000. Finally, KCG Holdings Inc. raised its holdings in 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 purchasing an additional 10,443 shares in the last quarter. Hedge funds and other institutional investors own 71.90% of the company’s stock.
A number of brokerages have recently weighed in on ES. BidaskClub upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Credit Suisse Group boosted their price target on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Morgan Stanley boosted their price target on Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Deutsche Bank AG lowered Eversource Energy from a “buy” rating to a “hold” rating and boosted their price target for the stock from $61.00 to $61.50 in a research note on Monday, July 31st. Finally, Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the stock a “buy” rating in a research note on Monday, July 31st. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $63.79.
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Shares of Eversource Energy (NYSE:ES) traded down 0.63% during midday trading on Wednesday, reaching $61.35. The company had a trading volume of 428,209 shares. The stock has a market capitalization of $19.44 billion, a PE ratio of 19.85 and a beta of 0.28. The company’s 50 day moving average price is $61.82 and its 200 day moving average price is $61.14. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $64.19.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Equities research analysts expect that Eversource Energy will post $3.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Monday, September 18th. Eversource Energy’s dividend payout ratio (DPR) is 61.49%.
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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