E Fund Management Co. Ltd. purchased a new position in shares of Eversource Energy (NYSE:ES) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 603 shares of the utilities provider’s stock, valued at approximately $52,000.
Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in shares of Eversource Energy by 0.9% during the 1st quarter. The Manufacturers Life Insurance Company now owns 819,148 shares of the utilities provider’s stock worth $70,930,000 after purchasing an additional 7,443 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Eversource Energy by 20.6% during the 4th quarter. Alliancebernstein L.P. now owns 619,784 shares of the utilities provider’s stock worth $53,618,000 after purchasing an additional 106,031 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of Eversource Energy by 11.3% during the 4th quarter. Toronto Dominion Bank now owns 178,710 shares of the utilities provider’s stock worth $15,460,000 after purchasing an additional 18,189 shares during the last quarter. Rosenberg Matthew Hamilton purchased a new position in shares of Eversource Energy during the 1st quarter worth about $52,000. Finally, Bank of Nova Scotia lifted its holdings in shares of Eversource Energy by 56.7% during the 1st quarter. Bank of Nova Scotia now owns 92,318 shares of the utilities provider’s stock worth $7,994,000 after acquiring an additional 33,403 shares during the period. 77.42% of the stock is currently owned by institutional investors.
Several research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of Eversource Energy in a report on Wednesday, April 14th. They set a “neutral” rating and a $89.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Eversource Energy from $80.00 to $87.00 and gave the stock an “underweight” rating in a report on Tuesday, April 20th. Williams Capital reiterated a “buy” rating on shares of Eversource Energy in a report on Friday, April 23rd. Scotiabank upgraded shares of Eversource Energy from a “sector underperform” rating to a “sector perform” rating and set a $87.00 price objective on the stock in a report on Friday, April 30th. They noted that the move was a valuation call. Finally, Credit Suisse Group cut their price objective on shares of Eversource Energy from $89.00 to $85.00 and set an “underperform” rating on the stock in a report on Tuesday, May 11th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Eversource Energy currently has an average rating of “Hold” and a consensus price target of $89.67.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Monday, May 10th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.01). Eversource Energy had a net margin of 13.22% and a return on equity of 9.24%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the business earned $1.02 EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Eversource Energy will post 3.84 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Thursday, May 20th will be given a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, May 19th. Eversource Energy’s payout ratio is currently 66.21%.
In other news, VP Jay S. Buth sold 3,001 shares of the firm’s stock in a transaction that occurred on Tuesday, May 18th. The shares were sold at an average price of $84.38, for a total transaction of $253,224.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gregory B. Butler sold 12,000 shares of Eversource Energy stock in a transaction on Friday, June 4th. The stock was sold at an average price of $82.16, for a total transaction of $985,920.00. The disclosure for this sale can be found here. Insiders have sold 16,814 shares of company stock valued at $1,393,521 in the last three months. Corporate insiders own 0.34% of the company’s stock.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.
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