Franklin Resources Inc. boosted its stake in Eversource Energy (NYSE:ES) by 2.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,441,691 shares of the utilities provider’s stock after acquiring an additional 51,529 shares during the period. Franklin Resources Inc. owned 0.77% of Eversource Energy worth $154,265,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of ES. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Eversource Energy by 7.0% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 61,084 shares of the utilities provider’s stock worth $3,692,000 after purchasing an additional 3,998 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Eversource Energy by 40.3% during the third quarter. Victory Capital Management Inc. now owns 228,511 shares of the utilities provider’s stock worth $13,811,000 after purchasing an additional 65,679 shares during the period. Prudential Financial Inc. raised its holdings in shares of Eversource Energy by 1.6% during the third quarter. Prudential Financial Inc. now owns 463,615 shares of the utilities provider’s stock worth $28,021,000 after purchasing an additional 7,120 shares during the period. Swiss National Bank raised its holdings in shares of Eversource Energy by 0.8% during the third quarter. Swiss National Bank now owns 1,167,157 shares of the utilities provider’s stock worth $70,543,000 after purchasing an additional 9,300 shares during the period. Finally, Bessemer Group Inc. raised its holdings in shares of Eversource Energy by 64.6% during the third quarter. Bessemer Group Inc. now owns 5,920 shares of the utilities provider’s stock worth $358,000 after purchasing an additional 2,324 shares during the period. 73.85% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Monday, January 8th. Janney Montgomery Scott cut shares of Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Evercore ISI assumed coverage on shares of Eversource Energy in a report on Thursday, March 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Morgan Stanley cut shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and set a $63.00 price objective on the stock. in a report on Tuesday, February 13th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $65.00 price objective (down previously from $72.00) on shares of Eversource Energy in a report on Monday, February 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.82.
Eversource Energy (NYSE:ES) opened at $57.06 on Tuesday. The stock has a market cap of $18,138.54, a PE ratio of 18.35, a P/E/G ratio of 3.04 and a beta of 0.37. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.69 and a quick ratio of 0.63. Eversource Energy has a 12-month low of $55.93 and a 12-month high of $66.15.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.87 billion. Eversource Energy had a net margin of 12.74% and a return on equity of 9.03%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. equities analysts forecast that Eversource Energy will post 3.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 6th will be given a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. Eversource Energy’s dividend payout ratio is currently 64.95%.
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About Eversource Energy
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, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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