Eversource Energy (ES) Position Cut by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. reduced its position in shares of Eversource Energy (NYSE:ES) by 73.8% during the second quarter, Holdings Channel reports. The institutional investor owned 13,017 shares of the company’s stock after selling 36,733 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Eversource Energy were worth $780,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Artemis Investment Management LLP boosted its position in shares of Eversource Energy by 64.8% in the second quarter. Artemis Investment Management LLP now owns 295,248 shares of the company’s stock valued at $17,682,000 after buying an additional 116,088 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Eversource Energy by 1.1% in the second quarter. Retirement Systems of Alabama now owns 161,714 shares of the company’s stock valued at $9,687,000 after buying an additional 1,747 shares during the last quarter. Conning Inc. boosted its position in shares of Eversource Energy by 5.5% in the second quarter. Conning Inc. now owns 7,864 shares of the company’s stock valued at $471,000 after buying an additional 410 shares during the last quarter. PGGM Investments boosted its position in shares of Eversource Energy by 2.7% in the second quarter. PGGM Investments now owns 492,941 shares of the company’s stock valued at $29,527,000 after buying an additional 13,041 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Eversource Energy by 8.8% in the second quarter. Strs Ohio now owns 122,479 shares of the company’s stock valued at $7,336,000 after buying an additional 9,933 shares during the last quarter. 69.38% of the stock is currently owned by institutional investors.
Eversource Energy (NYSE:ES) traded down 0.53% during mid-day trading on Friday, hitting $52.44. 1,509,784 shares of the stock traded hands. The firm has a market cap of $16.63 billion, a price-to-earnings ratio of 19.28 and a beta of 0.29. The stock has a 50-day moving average of $54.43 and a 200 day moving average of $56.44. Eversource Energy has a 1-year low of $48.18 and a 1-year high of $60.44.
Eversource Energy (NYSE:ES) last issued 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 the consensus estimate of $1.81 billion. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. On average, equities analysts expect that Eversource Energy will post $2.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a $0.445 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.39%. Eversource Energy’s dividend payout ratio (DPR) is presently 65.44%.
Several research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Barclays PLC decreased their price target on shares of Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a research note on Tuesday. Deutsche Bank AG reiterated a “hold” rating and set a $58.00 price target (down previously from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th. Citigroup Inc. increased their price target on shares of Eversource Energy from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Finally, Williams Capital reiterated a “buy” rating on shares of Eversource Energy in a research note on Friday, September 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Eversource Energy presently has a consensus rating of “Hold” and an average target price of $59.71.
In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.89% of the stock is currently owned by corporate insiders.
Eversource Energy Company Profile
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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