Caisse DE Depot ET Placement DU Quebec lessened its stake in Eversource Energy (NYSE:ES - Free Report) by 49.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,359,290 shares of the utilities provider's stock after selling 1,305,967 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.37% of Eversource Energy worth $78,064,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in ES. Wellington Management Group LLP grew its stake in Eversource Energy by 38.6% in the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after purchasing an additional 4,585,232 shares in the last quarter. Norges Bank acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $188,838,000. Amundi increased its holdings in shares of Eversource Energy by 32.2% in the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock valued at $367,691,000 after acquiring an additional 1,579,818 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares in the last quarter. Finally, Magellan Asset Management Ltd boosted its holdings in Eversource Energy by 15.9% in the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock worth $371,829,000 after purchasing an additional 890,514 shares during the period. Institutional investors own 79.99% of the company's stock.
Insider Activity at Eversource Energy
In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have weighed in on ES. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Barclays cut their target price on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Wells Fargo & Company dropped their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Finally, Scotiabank reduced their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Eversource Energy has an average rating of "Hold" and a consensus price target of $65.78.
Read Our Latest Analysis on Eversource Energy
Eversource Energy Stock Performance
ES traded up $0.48 during trading hours on Monday, hitting $59.31. The company's stock had a trading volume of 2,067,346 shares, compared to its average volume of 2,383,526. The company has a 50-day simple moving average of $59.46 and a 200 day simple moving average of $60.06. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $21.77 billion, a PE ratio of 25.68, a PEG ratio of 2.35 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01.
Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The company's quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the company earned $1.49 earnings per share. As a group, sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current year.
Eversource Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 5.08%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.
About Eversource Energy
(
Free Report)
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.
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