Quantitative Investment Management LLC Decreases Holdings in Eversource Energy (ES)
Quantitative Investment Management LLC cut its holdings in shares of Eversource Energy (NYSE:ES) by 22.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 123,800 shares of the utilities provider’s stock after selling 36,600 shares during the quarter. Quantitative Investment Management LLC’s holdings in Eversource Energy were worth $7,515,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brookfield Asset Management Inc. acquired a new stake in Eversource Energy during the 1st quarter worth about $106,000. Northwestern Mutual Wealth Management Co. boosted its position in Eversource Energy by 24.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 400 shares during the period. NEXT Financial Group Inc boosted its position in Eversource Energy by 168.9% during the 2nd quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 1,520 shares during the period. Van ECK Associates Corp boosted its position in Eversource Energy by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 2,736 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 418 shares during the period. Finally, Teacher Retirement System of Texas acquired a new stake in Eversource Energy during the 2nd quarter worth about $200,000. Hedge funds and other institutional investors own 71.88% of the company’s stock.
Shares of Eversource Energy (NYSE:ES) opened at 60.71 on Friday. The firm has a market capitalization of $19.24 billion, a price-to-earnings ratio of 19.65 and a beta of 0.29. Eversource Energy has a one year low of $50.56 and a one year high of $64.19. The stock’s 50 day moving average price is $62.57 and its 200 day moving average price is $60.87.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. Eversource Energy’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 earnings per share. Analysts expect that Eversource Energy will post $3.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th will be given a dividend of $0.475 per share. The ex-dividend date is Monday, September 18th. This represents a $1.90 annualized dividend and a dividend yield of 3.13%. Eversource Energy’s dividend payout ratio is currently 61.49%.
ES has been the subject of a number of research reports. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, June 21st. Morgan Stanley restated an “equal weight” rating on shares of Eversource Energy in a research report on Tuesday, July 11th. Credit Suisse Group restated a “hold” rating and set a $59.00 price objective on shares of Eversource Energy in a research report on Tuesday, June 6th. BidaskClub lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Barclays PLC restated an “equal weight” rating and set a $66.00 price objective (up from $62.00) on shares of Eversource Energy in a research report on Thursday, June 1st. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $63.50.
About Eversource Energy
Eversource Energy 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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