Macquarie Group Ltd. cut its holdings in shares of Eversource Energy (NYSE:ES) by 9.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,300 shares of the utilities provider’s stock after selling 10,300 shares during the quarter. Macquarie Group Ltd.’s holdings in Eversource Energy were worth $5,725,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of Eversource Energy by 2,396.3% during the 1st quarter. BlackRock Inc. now owns 23,980,820 shares of the utilities provider’s stock valued at $1,409,592,000 after acquiring an additional 23,020,171 shares during the period. Principal Financial Group Inc. lifted its position in shares of Eversource Energy by 382.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,326,749 shares of the utilities provider’s stock valued at $141,257,000 after acquiring an additional 1,844,447 shares during the period. Magellan Asset Management Ltd bought a new stake in shares of Eversource Energy during the 1st quarter valued at $82,000,000. Vanguard Group Inc. raised its holdings in shares of Eversource Energy by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 33,055,292 shares of the utilities provider’s stock worth $2,006,787,000 after buying an additional 781,327 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in shares of Eversource Energy by 52.3% during the 1st quarter. Renaissance Technologies LLC now owns 1,626,800 shares of the utilities provider’s stock worth $95,623,000 after buying an additional 558,400 shares in the last quarter. Institutional investors and hedge funds own 71.94% of the company’s stock.
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Eversource Energy (NYSE ES) opened at 62.24 on Friday. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 20.14 and a beta of 0.28. The firm has a 50-day moving average price of $61.65 and a 200 day moving average price of $61.29. Eversource Energy has a one year low of $50.56 and a one year high of $64.19.
Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The firm’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Equities analysts expect that Eversource Energy will post $3.14 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were given a dividend of $0.475 per share. The ex-dividend date was Monday, September 18th. This represents a $1.90 dividend on an annualized basis and a yield of 3.05%. Eversource Energy’s dividend payout ratio is presently 61.49%.
A number of research firms have recently commented on ES. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Williams Capital boosted their price target on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday. Credit Suisse Group upped their target price on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Morgan Stanley upped their target price on Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Finally, Bank of America Corporation started coverage on Eversource Energy in a report on Tuesday. They issued an “underperform” rating and a $62.00 target price for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $64.06.
Eversource Energy Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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