Mn Services Vermogensbeheer B.V. lowered its stake in Eversource Energy (NYSE:ES - Free Report) by 7.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 126,289 shares of the utilities provider's stock after selling 9,900 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Eversource Energy were worth $7,844,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy in the fourth quarter worth $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy in the fourth quarter worth $29,000. Assetmark Inc. increased its stake in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after acquiring an additional 254 shares during the period. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy in the fourth quarter worth $33,000. Finally, Venturi Wealth Management LLC grew its position in Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock valued at $34,000 after buying an additional 301 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.
Analyst Ratings Changes
ES has been the topic of several analyst reports. JPMorgan Chase & Co. restated an "underweight" rating and set a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. BMO Capital Markets raised their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Eversource Energy presently has an average rating of "Hold" and an average target price of $65.78.
Read Our Latest Stock Report on ES
Insider Transactions at Eversource Energy
In other news, EVP Penelope M. Conner sold 2,600 shares of the 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 sale, the executive vice president now owns 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.41% of the company's stock.
Eversource Energy Price Performance
Shares of NYSE ES traded down $0.83 during trading on Wednesday, hitting $62.37. The company had a trading volume of 2,799,239 shares, compared to its average volume of 2,461,250. The stock has a fifty day simple moving average of $61.65 and a two-hundred day simple moving average of $60.12. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The firm has a market capitalization of $22.91 billion, a price-to-earnings ratio of 26.88, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71.
Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter last year, the business earned $1.49 earnings per share. On average, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.
Eversource Energy Announces Dividend
The firm 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 $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy's dividend payout ratio is currently 129.74%.
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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