Eversource Energy (ES) Stake Raised by Sumitomo Mitsui Asset Management Company LTD
Sumitomo Mitsui Asset Management Company LTD increased its stake in Eversource Energy (NYSE:ES) by 1.4% during the second quarter, Holdings Channel reports. The fund owned 24,642 shares of the company’s stock after buying an additional 348 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Eversource Energy were worth $1,476,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. American Century Companies Inc. bought a new position in shares of Eversource Energy during the second quarter valued at $62,821,000. AMP Capital Investors Ltd raised its position in shares of Eversource Energy by 4.5% in the first quarter. AMP Capital Investors Ltd now owns 978,129 shares of the company’s stock valued at $57,114,000 after buying an additional 42,077 shares during the last quarter. Artemis Investment Management LLP raised 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. Renaissance Technologies LLC raised its position in shares of Eversource Energy by 21.8% in the first quarter. Renaissance Technologies LLC now owns 903,400 shares of the company’s stock valued at $52,704,000 after buying an additional 161,400 shares during the last quarter. Finally, Shell Asset Management Co. raised its position in shares of Eversource Energy by 17.0% in the second quarter. Shell Asset Management Co. now owns 50,091 shares of the company’s stock valued at $3,000,000 after buying an additional 7,273 shares during the last quarter. Institutional investors and hedge funds own 69.34% of the company’s stock.
Shares of Eversource Energy (NYSE:ES) traded up 0.71% during mid-day trading on Tuesday, reaching $54.13. 1,308,834 shares of the company’s stock traded hands. Eversource Energy has a 1-year low of $48.18 and a 1-year high of $60.44. The company has a market capitalization of $17.17 billion, a P/E ratio of 19.90 and a beta of 0.29. The firm has a 50-day moving average price of $54.05 and a 200-day moving average price of $56.20.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.64 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the business posted $0.65 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. On average, equities research analysts forecast that Eversource Energy will post $2.97 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.78 dividend on an annualized basis and a yield of 3.29%. Eversource Energy’s payout ratio is presently 65.44%.
ES has been the subject of a number of research analyst reports. Williams Capital reissued a “buy” rating on shares of Eversource Energy in a research report on Friday, September 2nd. Barclays PLC dropped their target price on shares of Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 4th. Citigroup Inc. dropped their target price on shares of Eversource Energy from $61.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, October 4th. Zacks Investment Research raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, June 23rd. Finally, 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. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $59.67.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.89% of the company’s stock.
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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