Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,669 shares of the utilities provider's stock, valued at approximately $663,000.
Other large investors have also made changes to their positions in the company. Mizuho Bank Ltd. bought a new position in shares of Eversource Energy during the 4th quarter valued at approximately $26,000. Assetmark Inc. grew its stake in shares of Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 254 shares during the period. Pinney & Scofield Inc. bought a new position in shares of Eversource Energy during the 4th quarter valued at approximately $33,000. Venturi Wealth Management LLC grew its stake in shares of 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 during the period. Finally, OFI Invest Asset Management bought a new position in shares of Eversource Energy during the 4th quarter valued at approximately $35,000. 79.99% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
ES has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. BMO Capital Markets boosted their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Mizuho boosted their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $65.67.
Read Our Latest Stock Analysis on ES
Eversource Energy Price Performance
Shares of ES traded up $0.87 during mid-day trading on Thursday, hitting $63.33. 2,387,351 shares of the stock were exchanged, compared to its average volume of 2,478,046. The company has a market cap of $23.27 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 2.38 and a beta of 0.63. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The firm has a 50-day moving average of $62.33 and a two-hundred day moving average of $60.18. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.66 and a current ratio of 0.75.
Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. The business had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The company's revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. On average, equities analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.
Eversource Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.75%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio is currently 129.74%.
Insider Activity
In other news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president now owns 10,988 shares of the company's stock, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company's stock.
Eversource Energy Company Profile
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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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