Teacher Retirement System of Texas Takes Position in Eversource Energy (NYSE:ES)

Teacher Retirement System of Texas acquired a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 53,482 shares of the utilities provider's stock, valued at approximately $3,322,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ES. Vanguard Group Inc. increased its position in Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after buying an additional 1,387,072 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Eversource Energy by 38.6% in the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after purchasing an additional 4,585,232 shares during the period. Geode Capital Management LLC grew its position in shares of Eversource Energy by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock valued at $547,550,000 after purchasing an additional 517,042 shares during the period. FMR LLC grew its position in shares of Eversource Energy by 4.8% in the fourth quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock valued at $422,259,000 after purchasing an additional 333,529 shares during the period. Finally, Magellan Asset Management Ltd grew its position in shares of Eversource Energy by 15.9% in the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after purchasing an additional 890,514 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Down 0.6%

Shares of ES traded down $0.42 during midday trading on Friday, reaching $65.69. 1,605,788 shares of the company were exchanged, compared to its average volume of 2,493,004. The stock has a 50-day moving average price of $63.68 and a 200-day moving average price of $60.63. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 28.31, a P/E/G ratio of 2.42 and a beta of 0.62. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting analysts' consensus estimates of $1.50. The company 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 firm's quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.49 earnings per share. Research analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 15th were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend was Thursday, May 15th. Eversource Energy's dividend payout ratio is presently 129.74%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ES. BMO Capital Markets lifted their price objective on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Mizuho lifted 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. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Finally, Wall Street Zen upgraded 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 assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of "Hold" and an average price target of $65.67.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, the executive vice president owned 10,988 shares in the company, valued at approximately $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company's stock.

Eversource Energy 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.