Gabelli Funds LLC reduced its holdings in Eversource Energy (NYSE:ES) by 0.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,050,000 shares of the utilities provider’s stock after selling 8,500 shares during the quarter. Gabelli Funds LLC’s holdings in Eversource Energy were worth $61,866,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in ES. Optimum Investment Advisors acquired a new position in Eversource Energy during the 1st quarter worth $143,000. USS Investment Management Ltd lifted its holdings in Eversource Energy by 51.8% during the 1st quarter. USS Investment Management Ltd now owns 167,300 shares of the utilities provider’s stock worth $10,079,000 after buying an additional 57,100 shares in the last quarter. BlackRock Inc. lifted its holdings in Eversource Energy by 4.1% during the 1st quarter. BlackRock Inc. now owns 26,232,482 shares of the utilities provider’s stock worth $1,545,618,000 after buying an additional 1,031,761 shares in the last quarter. KBC Group NV lifted its holdings in Eversource Energy by 3.8% during the 1st quarter. KBC Group NV now owns 34,275 shares of the utilities provider’s stock worth $2,019,000 after buying an additional 1,262 shares in the last quarter. Finally, Forsta AP Fonden lifted its holdings in Eversource Energy by 143.0% during the 1st quarter. Forsta AP Fonden now owns 269,353 shares of the utilities provider’s stock worth $15,870,000 after buying an additional 158,500 shares in the last quarter. 74.32% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Christine M. Carmody sold 21,500 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $57.79, for a total transaction of $1,242,485.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $57.03, for a total transaction of $358,262.46. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,894 shares of company stock valued at $1,607,181. Corporate insiders own 0.45% of the company’s stock.
ES opened at $57.78 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.68 and a quick ratio of 0.61. Eversource Energy has a 12 month low of $55.93 and a 12 month high of $66.15. The firm has a market capitalization of $18.21 billion, a P/E ratio of 18.58, a PEG ratio of 3.08 and a beta of 0.31.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, May 3rd. The utilities provider reported $0.85 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.85. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Eversource Energy had a net margin of 12.58% and a return on equity of 9.04%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 EPS. sell-side analysts forecast that Eversource Energy will post 3.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Thursday, May 24th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Wednesday, May 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently 64.95%.
Several research firms have issued reports on ES. Credit Suisse Group downgraded Eversource Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $63.00 to $59.00 in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Citigroup upgraded shares of Eversource Energy from a “sell” rating to a “neutral” rating and set a $59.00 target price for the company in a research report on Tuesday, May 1st. Janney Montgomery Scott cut shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. UBS assumed coverage on shares of Eversource Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $66.00 target price for the company. Finally, Guggenheim reiterated a “buy” rating and set a $64.00 target price on shares of Eversource Energy in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $63.35.
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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