Retirement Systems of Alabama Has $29.64 Million Stock Holdings in Eversource Energy (NYSE:ES)

Retirement Systems of Alabama lessened its stake in Eversource Energy (NYSE:ES - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 477,146 shares of the utilities provider's stock after selling 5,056 shares during the quarter. Retirement Systems of Alabama owned 0.13% of Eversource Energy worth $29,636,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ES. Mizuho Bank Ltd. acquired a new position in Eversource Energy in the 4th quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new position in Eversource Energy in the 4th quarter valued at approximately $29,000. Assetmark Inc. increased its stake 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 period. Pinney & Scofield Inc. acquired a new position in Eversource Energy in the 4th quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC increased its stake in Eversource Energy by 104.5% in the 4th 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. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Stock Performance

NYSE:ES opened at $62.47 on Friday. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The firm's fifty day simple moving average is $62.03 and its 200 day simple moving average is $60.14. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $22.95 billion, a PE ratio of 26.93, a PEG ratio of 2.32 and a beta of 0.63.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The business had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the business posted $1.49 EPS. Eversource Energy's revenue was up 23.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction 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 directly owns 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. 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. BMO Capital Markets increased their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three investment 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $65.78.

About Eversource Energy

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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