Price T Rowe Associates Inc. MD increased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 514,574 shares of the utilities provider's stock after purchasing an additional 25,316 shares during the period. Price T Rowe Associates Inc. MD owned 0.14% of Eversource Energy worth $29,552,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Eversource Energy by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider's stock worth $2,306,000 after buying an additional 9,981 shares during the period. Verity & Verity LLC purchased a new position in Eversource Energy in the 4th quarter worth approximately $744,000. Nordea Investment Management AB boosted its holdings in Eversource Energy by 41.7% in the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider's stock worth $99,554,000 after acquiring an additional 510,582 shares during the period. Everett Harris & Co. CA grew its position in Eversource Energy by 125.2% in the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider's stock valued at $465,000 after acquiring an additional 4,500 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Eversource Energy by 12.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider's stock valued at $4,198,000 after purchasing an additional 7,967 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on ES shares. StockNews.com lowered shares of Eversource Energy from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Barclays lowered their target price on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group lowered their price objective on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research note on Tuesday, January 28th. Finally, BMO Capital Markets upped their target price 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. Four research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.78.
Check Out Our Latest Analysis on Eversource Energy
Insider Buying and Selling
In related news, VP Jay S. Buth sold 980 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares of the company's stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.
Eversource Energy Stock Performance
ES traded down $0.29 during trading hours on Friday, hitting $58.79. 3,877,379 shares of the stock were exchanged, compared to its average volume of 2,384,796. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 25.45, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. The stock has a 50-day simple moving average of $59.46 and a 200-day simple moving average of $60.10. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01.
Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.50. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company's revenue for the quarter was up 23.6% on a year-over-year basis. During the same period last year, the firm posted $1.49 EPS. Analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.
Eversource Energy Announces Dividend
The business also recently declared 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 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Thursday, May 15th. Eversource Energy's payout ratio is 129.74%.
About Eversource Energy
(
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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