Investors Buy Shares of Eversource Energy (ES) on Weakness
Traders bought shares of Eversource Energy (NYSE:ES) on weakness during trading hours on Thursday. $34.68 million flowed into the stock on the tick-up and $13.55 million flowed out of the stock on the tick-down, for a money net flow of $21.13 million into the stock. Of all equities tracked, Eversource Energy had the 13th highest net in-flow for the day. Eversource Energy traded down ($0.56) for the day and closed at $57.75
ES has been the subject of a number of recent research reports. Zacks Investment Research downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Monday, March 21st. Janney Montgomery Scott downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Thursday, March 31st. They noted that the move was a valuation call. Deutsche Bank AG reiterated a “hold” rating and set a $59.00 price objective on shares of Eversource Energy in a research report on Tuesday, April 19th. Mizuho increased their price objective on Eversource Energy from $54.00 to $59.00 and gave the company a “neutral” rating in a research report on Tuesday, May 3rd. Finally, Argus reiterated a “buy” rating on shares of Eversource Energy in a research report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $57.87.
The stock’s 50 day moving average is $57.35 and its 200 day moving average is $55.70. The stock has a market cap of $18.32 billion and a P/E ratio of 21.15.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.77 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.84 by $0.07. During the same quarter in the prior year, the firm earned $0.80 EPS. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.29 billion. The company’s revenue was down 18.2% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post $2.98 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Tuesday, May 31st were paid a $0.445 dividend. The ex-dividend date of this dividend was Thursday, May 26th. This represents a $1.78 annualized dividend and a yield of 3.08%.
Other large investors have modified their holdings of the company. Commerzbank Aktiengesellschaft FI raised its stake in shares of Eversource Energy by 131.2% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 20,371 shares of the company’s stock valued at $1,040,000 after buying an additional 11,560 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Eversource Energy by 1.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,724 shares of the company’s stock valued at $1,058,000 after buying an additional 346 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of Eversource Energy by 80.6% in the fourth quarter. Suntrust Banks Inc. now owns 22,985 shares of the company’s stock valued at $1,173,000 after buying an additional 10,258 shares during the last quarter. Advantus Capital Management Inc raised its stake in shares of Eversource Energy by 2.2% in the fourth quarter. Advantus Capital Management Inc now owns 30,283 shares of the company’s stock valued at $1,547,000 after buying an additional 651 shares during the last quarter. Finally, Quantitative Investment Management LLC acquired a new stake in shares of Eversource Energy during the fourth quarter valued at about $1,802,000.
Eversource Energy, formerly Northeast Utilities, 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, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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