Conning Inc. Acquires 410 Shares of Eversource Energy (ES)
Conning Inc. raised its position in shares of Eversource Energy (NYSE:ES) by 5.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,864 shares of the company’s stock after buying an additional 410 shares during the period. Conning Inc.’s holdings in Eversource Energy were worth $471,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ES. Ledyard National Bank increased its position in Eversource Energy by 24.5% in the second quarter. Ledyard National Bank now owns 2,968 shares of the company’s stock worth $178,000 after buying an additional 585 shares in the last quarter. CHICAGO TRUST Co NA purchased a new stake in Eversource Energy during the second quarter worth approximately $206,000. Checchi Capital Advisers LLC boosted its stake in Eversource Energy by 1.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,581 shares of the company’s stock worth $215,000 after buying an additional 38 shares during the last quarter. Gofen & Glossberg LLC IL boosted its stake in Eversource Energy by 5.0% in the second quarter. Gofen & Glossberg LLC IL now owns 4,218 shares of the company’s stock worth $253,000 after buying an additional 200 shares during the last quarter. Finally, YHB Investment Advisors Inc. boosted its stake in Eversource Energy by 11.2% in the second quarter. YHB Investment Advisors Inc. now owns 4,245 shares of the company’s stock worth $254,000 after buying an additional 426 shares during the last quarter. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Eversource Energy (NYSE:ES) traded down 0.93% on Friday, hitting $54.18. 2,550,587 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $54.93 and its 200-day moving average price is $56.60. Eversource Energy has a 12-month low of $48.18 and a 12-month high of $60.44. The company has a market cap of $17.19 billion, a PE ratio of 19.92 and a beta of 0.32.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. The company earned $1.77 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. Eversource Energy’s revenue was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.65 earnings per share. Analysts forecast that Eversource Energy will post $2.97 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s dividend payout ratio (DPR) is 65.44%.
A number of equities research analysts recently commented on ES shares. Zacks Investment Research cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Barclays PLC increased their target price on shares of Eversource Energy from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday, July 7th. Janney Montgomery Scott raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a research report on Monday, August 1st. Williams Capital reissued a “buy” rating on shares of Eversource Energy in a research report on Friday, September 2nd. Finally, Citigroup Inc. increased their target price on shares of Eversource Energy from $53.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, July 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $61.29.
In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $54.77, for a total value of $547,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by insiders.
About Eversource Energy
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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