Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Eversource Energy (NYSE:ES - Free Report) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,089 shares of the utilities provider's stock after buying an additional 7,671 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Eversource Energy were worth $4,167,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in ES. Mizuho Bank Ltd. bought a new stake in shares of Eversource Energy in the fourth quarter valued at about $26,000. Assetmark Inc. increased its position in 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 purchasing an additional 254 shares during the period. Pinney & Scofield Inc. bought a new stake in shares of Eversource Energy in the 4th quarter valued at about $33,000. OFI Invest Asset Management purchased a new stake in shares of Eversource Energy in the 4th quarter worth approximately $35,000. Finally, CoreCap Advisors LLC boosted its stake in shares of Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy Stock Up 0.2%
Eversource Energy stock traded up $0.12 during midday trading on Friday, reaching $64.57. The company's stock had a trading volume of 1,471,270 shares, compared to its average volume of 2,494,896. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The stock has a market capitalization of $23.72 billion, a P/E ratio of 27.83, a PEG ratio of 2.40 and a beta of 0.62. The stock's 50-day simple moving average is $63.09 and its 200-day simple moving average is $60.36. 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 EPS for the quarter, meeting the consensus estimate of $1.50. The firm had revenue of $4.12 billion during 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%. Eversource Energy's revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted $1.49 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current year.
Eversource Energy Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.7525 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.66%. Eversource Energy's payout ratio is currently 129.74%.
Analyst Ratings Changes
ES has been the subject of a number of recent research reports. JPMorgan Chase & Co. reissued 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 upped their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Mizuho raised their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $65.67.
View Our Latest Research Report on Eversource Energy
Insider Buying and Selling at Eversource Energy
In related news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was 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 owned 10,988 shares in the company, valued at $703,232. This trade 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. 0.41% of the stock is owned by company insiders.
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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