Eversource Energy (ES) Stake Lessened by MetLife Investment Advisors LLC
MetLife Investment Advisors LLC cut its holdings in shares of Eversource Energy (NYSE:ES) by 2.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,284 shares of the utilities provider’s stock after selling 2,079 shares during the period. MetLife Investment Advisors LLC’s holdings in Eversource Energy were worth $5,467,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ES. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Eversource Energy in the 2nd quarter valued at $268,926,000. Bank of New York Mellon Corp increased its position in shares of Eversource Energy by 14.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 14,651,624 shares of the utilities provider’s stock valued at $858,731,000 after acquiring an additional 1,803,735 shares during the period. BlackRock Inc. increased its position in shares of Eversource Energy by 4.1% in the 1st quarter. BlackRock Inc. now owns 26,232,482 shares of the utilities provider’s stock valued at $1,545,618,000 after acquiring an additional 1,031,761 shares during the period. Magellan Asset Management Ltd increased its position in shares of Eversource Energy by 63.4% in the 2nd quarter. Magellan Asset Management Ltd now owns 2,480,436 shares of the utilities provider’s stock valued at $145,378,000 after acquiring an additional 962,538 shares during the period. Finally, Vaughan Nelson Investment Management L.P. acquired a new position in shares of Eversource Energy in the 2nd quarter valued at $48,499,000. 74.78% of the stock is currently owned by institutional investors and hedge funds.
NYSE:ES opened at $63.53 on Monday. Eversource Energy has a one year low of $52.76 and a one year high of $66.15. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.60 and a current ratio of 0.65. The firm has a market capitalization of $20.03 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 3.28 and a beta of 0.24.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 21st will be paid a dividend of $0.505 per share. This represents a $2.02 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 20th. Eversource Energy’s payout ratio is currently 64.95%.
In other news, EVP Leon J. Olivier sold 50,000 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $62.03, for a total transaction of $3,101,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.
ES has been the topic of several research reports. Credit Suisse Group cut their target price on Eversource Energy from $61.00 to $58.00 and set an “underperform” rating on the stock in a research report on Thursday, May 24th. Zacks Investment Research raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, June 1st. ValuEngine lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Morgan Stanley lowered their price target on shares of Eversource Energy from $62.00 to $59.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 13th. Finally, Janney Montgomery Scott raised shares of Eversource Energy from a “neutral” rating to a “buy” rating in a report on Friday, June 22nd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $62.70.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
Further Reading: Compound Annual Growth Rate (CAGR)
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