Meiji Yasuda Asset Management Co Ltd. increased its position in shares of Eversource Energy (NYSE:ES) by 63.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,891 shares of the utilities provider’s stock after purchasing an additional 6,940 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Eversource Energy were worth $1,081,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in ES. Vanguard Group Inc. boosted its holdings in Eversource Energy by 2.4% in the second quarter. Vanguard Group Inc. now owns 33,055,292 shares of the utilities provider’s stock valued at $2,006,787,000 after acquiring an additional 781,327 shares during the last quarter. BlackRock Inc. boosted its holdings in Eversource Energy by 1.6% in the second quarter. BlackRock Inc. now owns 24,355,049 shares of the utilities provider’s stock valued at $1,478,596,000 after acquiring an additional 374,229 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Eversource Energy by 3.4% in the third quarter. Bank of New York Mellon Corp now owns 15,936,793 shares of the utilities provider’s stock valued at $963,220,000 after acquiring an additional 516,965 shares during the last quarter. Legal & General Group Plc boosted its holdings in Eversource Energy by 7.5% in the second quarter. Legal & General Group Plc now owns 2,657,288 shares of the utilities provider’s stock valued at $161,331,000 after acquiring an additional 186,030 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Eversource Energy by 14.4% during the third quarter. American Century Companies Inc. now owns 2,653,302 shares of the utilities provider’s stock worth $160,366,000 after purchasing an additional 333,139 shares in the last quarter. 72.21% of the stock is owned by institutional investors.
Several research analysts recently commented on ES shares. Credit Suisse Group boosted their price target on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Williams Capital boosted their price objective on Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Morgan Stanley boosted their price objective on Eversource Energy from $64.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, Bank of America began coverage on Eversource Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Eversource Energy presently has an average rating of “Hold” and an average target price of $64.06.
Eversource Energy (NYSE ES) traded down $0.20 on Thursday, reaching $64.91. The company’s stock had a trading volume of 2,394,976 shares, compared to its average volume of 1,437,319. The firm has a market capitalization of $20,559.55, a P/E ratio of 21.07, a price-to-earnings-growth ratio of 3.48 and a beta of 0.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. Eversource Energy has a 12-month low of $52.21 and a 12-month high of $66.15.
Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the previous year, the company earned $0.83 EPS. Eversource Energy’s revenue for the quarter was down 2.5% on a year-over-year basis. research analysts predict that Eversource Energy will post 3.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Monday, December 18th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date is Friday, December 15th. Eversource Energy’s dividend payout ratio (DPR) is presently 61.69%.
In other news, COO Werner J. Schweiger sold 10,098 shares of the company’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Eversource Energy (ES) Stake Boosted by Meiji Yasuda Asset Management Co Ltd.” was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.dispatchtribunal.com/2017/12/07/meiji-yasuda-asset-management-co-ltd-raises-holdings-in-eversource-energy-es.html.
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.
Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.