Investors sold shares of Eversource Energy (NYSE:ES) on strength during trading on Friday. $28.62 million flowed into the stock on the tick-up and $298.89 million flowed out of the stock on the tick-down, for a money net flow of $270.27 million out of the stock. Of all companies tracked, Eversource Energy had the 19th highest net out-flow for the day. Eversource Energy traded up $0.81 for the day and closed at $71.73
ES has been the subject of several research reports. Barclays set a $66.00 price target on shares of Eversource Energy and gave the stock a “hold” rating in a research report on Saturday, November 17th. Guggenheim reaffirmed a “buy” rating and issued a $72.00 price target on shares of Eversource Energy in a research report on Monday, January 7th. Morgan Stanley upped their price target on shares of Eversource Energy from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 12th. Zacks Investment Research cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, January 16th. Finally, ValuEngine raised shares of Eversource Energy from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company. Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $69.18.
The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.50 and a current ratio of 0.56. The stock has a market cap of $22.39 billion, a P/E ratio of 21.87, a P/E/G ratio of 3.59 and a beta of 0.31.
Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, February 20th. The utilities provider reported $0.73 EPS for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.02). Eversource Energy had a net margin of 12.23% and a return on equity of 9.18%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the company earned $0.75 EPS. The company’s revenue was up 7.4% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post 3.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Tuesday, March 5th will be given a dividend of $0.535 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend is Monday, March 4th. This represents a $2.14 dividend on an annualized basis and a yield of 2.98%. Eversource Energy’s dividend payout ratio is presently 65.24%.
In other Eversource Energy news, VP Gregory B. Butler sold 11,500 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $68.63, for a total value of $789,245.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Christine M. Carmody sold 15,000 shares of the firm’s stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $70.06, for a total transaction of $1,050,900.00. The disclosure for this sale can be found here. Insiders have sold 111,201 shares of company stock valued at $7,727,360 in the last three months. 0.45% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Magellan Asset Management Ltd raised its holdings in shares of Eversource Energy by 14.3% in the fourth quarter. Magellan Asset Management Ltd now owns 2,831,554 shares of the utilities provider’s stock worth $184,164,000 after buying an additional 354,280 shares during the last quarter. MUFG Securities EMEA plc increased its stake in shares of Eversource Energy by 947.6% in the fourth quarter. MUFG Securities EMEA plc now owns 90,000 shares of the utilities provider’s stock worth $5,854,000 after acquiring an additional 81,409 shares during the period. American Century Companies Inc. increased its stake in shares of Eversource Energy by 35.7% in the fourth quarter. American Century Companies Inc. now owns 4,563,601 shares of the utilities provider’s stock worth $296,817,000 after acquiring an additional 1,200,309 shares during the period. Sowell Financial Services LLC increased its stake in shares of Eversource Energy by 16.4% in the fourth quarter. Sowell Financial Services LLC now owns 4,081 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 574 shares during the period. Finally, Norges Bank acquired a new stake in shares of Eversource Energy in the fourth quarter worth $166,695,000. 73.38% of the stock is owned by institutional investors and hedge funds.
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Eversource Energy Company Profile (NYSE:ES)
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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