Baillie Gifford & Co. cut its position in shares of Eversource Energy (NYSE:ES - Free Report) by 8.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 417,379 shares of the utilities provider's stock after selling 37,005 shares during the quarter. Baillie Gifford & Co. owned 0.11% of Eversource Energy worth $25,923,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Eversource Energy during the 4th quarter valued at $220,000. Congress Wealth Management LLC DE raised its holdings in Eversource Energy by 92.3% in the 4th quarter. Congress Wealth Management LLC DE now owns 5,682 shares of the utilities provider's stock valued at $326,000 after acquiring an additional 2,727 shares during the period. Korea Investment CORP grew its position in shares of Eversource Energy by 26.0% during the 4th quarter. Korea Investment CORP now owns 271,297 shares of the utilities provider's stock worth $15,581,000 after purchasing an additional 55,907 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Eversource Energy by 9.4% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider's stock worth $31,455,000 after purchasing an additional 47,189 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its position in shares of Eversource Energy by 19.5% during the 4th quarter. Elo Mutual Pension Insurance Co now owns 37,387 shares of the utilities provider's stock worth $2,147,000 after acquiring an additional 6,098 shares in the last quarter. Institutional investors own 79.99% of the company's stock.
Insider Activity at Eversource Energy
In other news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president directly owned 10,988 shares in the company, valued at $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
ES has been the topic of a number of research analyst reports. Mizuho raised their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. BMO Capital Markets lifted their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Bank of America upped their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $65.56.
Check Out Our Latest Research Report on Eversource Energy
Eversource Energy Price Performance
ES traded up $0.08 during midday trading on Wednesday, hitting $66.45. 455,228 shares of the company traded hands, compared to its average volume of 2,725,796. The business has a 50 day simple moving average of $64.64 and a two-hundred day simple moving average of $61.45. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 2.44 and a beta of 0.62. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01.
Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting analysts' consensus estimates of $1.50. The firm had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The business's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.49 earnings per share. On average, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.
Eversource Energy Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, May 15th. Eversource Energy's dividend payout ratio is currently 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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