Eversource Energy (ES) Stake Raised by AMP Capital Investors Ltd
AMP Capital Investors Ltd lifted its position in Eversource Energy (NYSE:ES) by 3.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 902,145 shares of the utilities provider’s stock after buying an additional 28,187 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.28% of Eversource Energy worth $54,526,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in ES. BB&T Securities LLC purchased a new stake in Eversource Energy in the second quarter valued at approximately $1,033,000. Teacher Retirement System of Texas purchased a new stake in Eversource Energy in the second quarter valued at approximately $200,000. Troy Asset Management Ltd raised its stake in Eversource Energy by 14.4% in the third quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock valued at $3,354,000 after purchasing an additional 7,000 shares in the last quarter. Swiss National Bank raised its stake in Eversource Energy by 3.0% in the second quarter. Swiss National Bank now owns 1,157,857 shares of the utilities provider’s stock valued at $70,293,000 after purchasing an additional 33,900 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in Eversource Energy by 25.5% in the second quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock valued at $6,516,000 after purchasing an additional 21,833 shares in the last quarter. 72.21% of the stock is currently owned by hedge funds and other institutional investors.
In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by company insiders.
Shares of Eversource Energy (NYSE:ES) traded down $0.60 during midday trading on Wednesday, reaching $64.88. 2,019,600 shares of the company’s stock were exchanged, compared to its average volume of 1,432,547. Eversource Energy has a twelve month low of $51.53 and a twelve month high of $66.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market capitalization of $20,749.68, a PE ratio of 21.26, a P/E/G ratio of 3.51 and a beta of 0.31.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis. sell-side analysts forecast that Eversource Energy will post 3.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Monday, December 18th will be given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a yield of 2.93%. Eversource Energy’s payout ratio is currently 61.69%.
A number of equities research analysts recently weighed in on ES shares. Zacks Investment Research downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Morgan Stanley raised their target price on shares of Eversource Energy from $64.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Credit Suisse Group raised their target price on shares of Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Williams Capital raised their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, Bank of America started coverage on shares of Eversource Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Eversource Energy currently has a consensus rating of “Hold” and an average price target of $64.06.
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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