California State Teachers Retirement System Buys 215,064 Shares of Eversource Energy (NYSE:ES)

California State Teachers Retirement System increased its holdings in Eversource Energy (NYSE:ES - Free Report) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,111,430 shares of the utilities provider's stock after acquiring an additional 215,064 shares during the period. California State Teachers Retirement System owned about 0.30% of Eversource Energy worth $63,829,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Mizuho Bank Ltd. purchased a new stake in shares of Eversource Energy in the fourth quarter worth approximately $26,000. Kestra Investment Management LLC bought a new stake in Eversource Energy during the fourth quarter worth $29,000. Assetmark Inc. raised its position in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after buying an additional 254 shares during the last quarter. Pinney & Scofield Inc. bought a new position in Eversource Energy during the 4th quarter valued at $33,000. Finally, Venturi Wealth Management LLC lifted its stake in Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 301 shares in the last quarter. Institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Performance

ES traded up $0.79 during midday trading on Friday, reaching $64.88. The company had a trading volume of 5,660,354 shares, compared to its average volume of 2,437,082. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The business has a 50-day moving average price of $60.21 and a two-hundred day moving average price of $59.93. The stock has a market cap of $23.84 billion, a PE ratio of 28.09, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. Eversource Energy's revenue for the quarter was up 23.6% on a year-over-year basis. On average, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.64%. Eversource Energy's payout ratio is 129.74%.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the transaction, the executive vice president now directly owns 10,988 shares of the company's stock, valued at approximately $703,232. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Wells Fargo & Company reduced their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Scotiabank cut their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research note on Thursday, February 13th. Finally, BMO Capital Markets upped their target price on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Eversource Energy currently has an average rating of "Hold" and an average target price of $65.78.

Eversource Energy Company Profile

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.