Flagship Harbor Advisors LLC increased its stake in shares of Eversource Energy (NYSE:ES) by 24.9% during the 1st quarter, HoldingsChannel reports. The fund owned 5,459 shares of the utilities provider’s stock after purchasing an additional 1,089 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Eversource Energy were worth $387,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in ES. Vanguard Group Inc. increased its stake in Eversource Energy by 1.3% in the third quarter. Vanguard Group Inc. now owns 34,614,034 shares of the utilities provider’s stock valued at $2,126,686,000 after purchasing an additional 436,242 shares during the period. Vanguard Group Inc increased its stake in Eversource Energy by 1.3% in the third quarter. Vanguard Group Inc now owns 34,614,034 shares of the utilities provider’s stock valued at $2,126,686,000 after purchasing an additional 436,242 shares during the period. BlackRock Inc. increased its stake in Eversource Energy by 2.4% in the fourth quarter. BlackRock Inc. now owns 28,130,030 shares of the utilities provider’s stock valued at $1,829,577,000 after purchasing an additional 661,442 shares during the period. Bank of New York Mellon Corp increased its stake in Eversource Energy by 100,075.7% in the third quarter. Bank of New York Mellon Corp now owns 15,640,429 shares of the utilities provider’s stock valued at $960,950,000 after purchasing an additional 15,624,816 shares during the period. Finally, American Century Companies Inc. increased its stake in 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 valued at $296,817,000 after purchasing an additional 1,200,309 shares during the period. Hedge funds and other institutional investors own 73.99% of the company’s stock.
A number of research analysts have commented on ES shares. Williams Capital restated a “buy” rating on shares of Eversource Energy in a research note on Monday, March 18th. Goldman Sachs Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 30th. Guggenheim restated a “buy” rating and issued a $72.00 price objective on shares of Eversource Energy in a research note on Monday, January 7th. Morgan Stanley lifted their price objective on shares of Eversource Energy from $69.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 12th. Finally, Zacks Investment Research upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Monday, April 8th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $69.60.
In related news, insider Sanford Cloud, Jr. sold 1,042 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $68.87, for a total transaction of $71,762.54. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Faasen William C. Van sold 2,501 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $70.00, for a total transaction of $175,070.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,201 shares of company stock worth $7,727,360. Company insiders own 0.37% of the company’s stock.
Shares of Eversource Energy stock opened at $70.15 on Wednesday. Eversource Energy has a 52-week low of $52.76 and a 52-week high of $72.26. The company has a current ratio of 0.56, a quick ratio of 0.50 and a debt-to-equity ratio of 1.07. The stock has a market cap of $22.46 billion, a PE ratio of 21.39, a PEG ratio of 3.68 and a beta of 0.31.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.02). Eversource Energy had a return on equity of 9.18% and a net margin of 12.23%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter last year, the firm earned $0.75 earnings per share. The company’s revenue was up 7.4% compared to the same quarter last year. Equities analysts anticipate that Eversource Energy will post 3.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 3.05%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s payout ratio is 65.24%.
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About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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