NFJ Investment Group LLC lifted its position in shares of Eversource Energy (NYSE:ES) by 39.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 240,838 shares of the utilities provider’s stock after acquiring an additional 67,601 shares during the quarter. NFJ Investment Group LLC’s holdings in Eversource Energy were worth $19,325,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Eaton Vance Management increased its holdings in Eversource Energy by 1.0% in the first quarter. Eaton Vance Management now owns 168,468 shares of the utilities provider’s stock valued at $14,588,000 after purchasing an additional 1,642 shares during the last quarter. Geode Capital Management LLC increased its holdings in Eversource Energy by 1.5% in the first quarter. Geode Capital Management LLC now owns 6,064,815 shares of the utilities provider’s stock valued at $523,800,000 after purchasing an additional 91,796 shares during the last quarter. Aspire Private Capital LLC increased its holdings in Eversource Energy by 119.2% in the first quarter. Aspire Private Capital LLC now owns 2,766 shares of the utilities provider’s stock valued at $240,000 after purchasing an additional 1,504 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Eversource Energy by 13.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 63,554 shares of the utilities provider’s stock valued at $5,100,000 after purchasing an additional 7,349 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in Eversource Energy by 3.3% in the second quarter. Stratos Wealth Advisors LLC now owns 11,437 shares of the utilities provider’s stock valued at $918,000 after purchasing an additional 366 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.
ES has been the subject of a number of recent analyst reports. Credit Suisse Group started coverage on Eversource Energy in a report on Wednesday, July 14th. They issued an “underperform” rating and a $85.00 price objective for the company. Mizuho lowered their price target on Eversource Energy from $85.00 to $82.00 and set an “underperform” rating for the company in a report on Thursday, September 16th. Finally, Morgan Stanley increased their price target on Eversource Energy from $81.00 to $85.00 and gave the stock an “underweight” rating in a report on Thursday, August 19th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $88.38.
Shares of NYSE ES traded up $0.27 during trading hours on Thursday, reaching $83.22. 856 shares of the stock were exchanged, compared to its average volume of 1,540,937. The firm has a market capitalization of $28.60 billion, a price-to-earnings ratio of 22.85, a P/E/G ratio of 3.45 and a beta of 0.31. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.60 and a current ratio of 0.64. Eversource Energy has a 52 week low of $76.64 and a 52 week high of $96.66. The stock’s fifty day simple moving average is $88.37 and its 200 day simple moving average is $85.41.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, July 29th. The utilities provider reported $0.79 EPS for the quarter, missing the Zacks’ consensus estimate of $0.80 by ($0.01). Eversource Energy had a return on equity of 9.27% and a net margin of 13.11%. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $2.18 billion. Research analysts predict that Eversource Energy will post 3.83 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be paid a dividend of $0.6025 per share. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a $2.41 dividend on an annualized basis and a yield of 2.90%. Eversource Energy’s dividend payout ratio (DPR) is presently 66.21%.
Eversource Energy Company Profile
Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Water Distribution and Natural Gas Distribution. The Electric Distribution segment distributes electricity to retail customers.
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