Sumitomo Mitsui Trust Holdings Inc. Increases Position in Eversource Energy (ES)
Sumitomo Mitsui Trust Holdings Inc. raised its stake in Eversource Energy (NYSE:ES) by 0.5% during the third quarter, Holdings Channel reports. The firm owned 933,203 shares of the company’s stock after buying an additional 4,803 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Eversource Energy were worth $50,561,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mycio Wealth Partners LLC boosted its position in shares of Eversource Energy by 100.0% in the second quarter. Mycio Wealth Partners LLC now owns 1,770 shares of the company’s stock valued at $106,000 after buying an additional 885 shares during the period. WFG Advisors LP boosted its position in shares of Eversource Energy by 7.8% in the second quarter. WFG Advisors LP now owns 1,994 shares of the company’s stock valued at $119,000 after buying an additional 145 shares during the period. Bellwether Investment Group LLC acquired a new position in shares of Eversource Energy during the second quarter valued at about $132,000. Quadrant Capital Group LLC boosted its position in shares of Eversource Energy by 0.6% in the third quarter. Quadrant Capital Group LLC now owns 2,582 shares of the company’s stock valued at $135,000 after buying an additional 15 shares during the period. Finally, SevenBridge Financial Group LLC acquired a new position in shares of Eversource Energy during the second quarter valued at about $138,000. 68.89% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy (NYSE:ES) opened at 55.15 on Friday. The firm has a 50-day moving average of $54.15 and a 200-day moving average of $55.04. The stock has a market cap of $17.48 billion, a PE ratio of 19.63 and a beta of 0.28. Eversource Energy has a 12-month low of $50.16 and a 12-month high of $60.44.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. Eversource Energy had a net margin of 11.85% and a return on equity of 8.61%. The business earned $2.04 billion during the quarter, compared to analysts’ expectations of $2.05 billion. During the same quarter in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Equities analysts predict that Eversource Energy will post $2.98 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 16th were paid a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, December 14th. Eversource Energy’s dividend payout ratio is currently 63.35%.
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Several research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a report on Thursday, December 29th. Barclays PLC reduced 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 report on Tuesday, October 4th. Deutsche Bank AG raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a report on Tuesday, December 20th. Citigroup Inc. cut their price objective on shares of Eversource Energy from $61.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. Finally, Argus reaffirmed a “buy” rating and issued a $59.00 price objective (down previously from $64.00) on shares of Eversource Energy in a report on Wednesday, October 12th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Eversource Energy currently has a consensus rating of “Buy” and a consensus price target of $60.14.
In related news, insider Thomas J. May sold 120,000 shares of the stock in a transaction on Friday, January 6th. The shares were sold at an average price of $55.20, for a total transaction of $6,624,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate 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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