IFM Investors Pty Ltd raised its stake in Eversource Energy (NYSE:ES) by 8.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,407 shares of the utilities provider’s stock after buying an additional 1,608 shares during the period. IFM Investors Pty Ltd’s holdings in Eversource Energy were worth $1,448,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Bremer Trust National Association bought a new position in shares of Eversource Energy during the fourth quarter valued at $26,000. Covington Capital Management bought a new position in Eversource Energy during the fourth quarter worth $26,000. Certified Advisory Corp raised its stake in Eversource Energy by 114.8% during the fourth quarter. Certified Advisory Corp now owns 421 shares of the utilities provider’s stock worth $27,000 after buying an additional 225 shares during the last quarter. Capital Financial Planning LLC bought a new position in Eversource Energy during the fourth quarter worth $27,000. Finally, Destination Wealth Management bought a new position in Eversource Energy during the fourth quarter worth $29,000. 73.99% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Monday, March 25th. Guggenheim downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Friday, February 22nd. Scotiabank reissued a “sell” rating and set a $63.00 target price on shares of Eversource Energy in a research note on Thursday, February 21st. Goldman Sachs Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 30th. Finally, Macquarie raised shares of Eversource Energy from a “neutral” rating to an “outperform” rating and set a $73.00 target price for the company in a research note on Monday, March 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $69.60.
ES opened at $69.96 on Friday. Eversource Energy has a 1-year low of $52.76 and a 1-year high of $72.26. The company has a quick ratio of 0.50, a current ratio of 0.56 and a debt-to-equity ratio of 1.07. The firm has a market capitalization of $22.20 billion, a price-to-earnings ratio of 21.39, a P/E/G ratio of 3.64 and a beta of 0.31.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.75 by ($0.02). Eversource Energy had a net margin of 12.23% and a return on equity of 9.18%. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $0.75 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, equities analysts predict that Eversource Energy will post 3.45 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a $0.535 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.51. This represents a $2.14 annualized dividend and a yield of 3.06%. The ex-dividend date was Monday, March 4th. Eversource Energy’s payout ratio is 65.24%.
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Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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