California State Teachers Retirement System lifted its stake in Eversource Energy (NYSE:ES) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 659,593 shares of the utilities provider’s stock after purchasing an additional 46,973 shares during the period. California State Teachers Retirement System owned 0.21% of Eversource Energy worth $41,673,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of ES. Goldman Sachs Group Inc. grew its stake in shares of Eversource Energy by 7.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,460,038 shares of the utilities provider’s stock worth $92,245,000 after acquiring an additional 106,656 shares during the period. Stone Ridge Asset Management LLC bought a new stake in Eversource Energy during the fourth quarter valued at approximately $3,045,000. QS Investors LLC grew its position in Eversource Energy by 325.5% during the fourth quarter. QS Investors LLC now owns 138,688 shares of the utilities provider’s stock valued at $8,762,000 after buying an additional 106,096 shares during the period. Legg Mason Asset Management Japan Co. Ltd. grew its position in Eversource Energy by 31.0% during the fourth quarter. Legg Mason Asset Management Japan Co. Ltd. now owns 30,000 shares of the utilities provider’s stock valued at $1,896,000 after buying an additional 7,100 shares during the period. Finally, Franklin Resources Inc. grew its position in Eversource Energy by 2.2% during the fourth quarter. Franklin Resources Inc. now owns 2,441,691 shares of the utilities provider’s stock valued at $154,265,000 after buying an additional 51,529 shares during the period. 73.81% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have 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 target on the stock in a report on Monday, January 8th. Janney Montgomery Scott downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Evercore ISI began coverage on shares of Eversource Energy in a report on Thursday, March 8th. They issued an “outperform” rating and a $62.00 target price on the stock. Morgan Stanley downgraded shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and set a $63.00 price target on the stock. in a research note on Tuesday, February 13th. Finally, Credit Suisse Group set a $59.00 price target on shares of Eversource Energy and gave the company a “hold” rating in a research note on Thursday, March 29th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $62.75.
NYSE:ES traded down $0.36 during mid-day trading on Friday, reaching $59.65. The company’s stock had a trading volume of 1,769,333 shares, compared to its average volume of 2,083,149. Eversource Energy has a 1 year low of $55.93 and a 1 year high of $66.15. The firm has a market cap of $19,016.32, a PE ratio of 19.18, a price-to-earnings-growth ratio of 3.20 and a beta of 0.32. 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 (NYSE:ES) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.74%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. sell-side analysts anticipate that Eversource Energy will post 3.26 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Tuesday, March 6th were given a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a dividend yield of 3.39%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, March 5th. Eversource Energy’s dividend payout ratio is presently 64.95%.
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Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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