VIRGINIA RETIREMENT SYSTEMS ET Al Acquires New Holdings in Eversource Energy $ES

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Eversource Energy (NYSE:ES) during the third quarter, Holdings Channel reports. The fund bought 10,700 shares of the utilities provider’s stock, valued at approximately $687,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Eversource Energy during the 2nd quarter valued at $3,086,413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eversource Energy by 1.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,620,413 shares of the utilities provider’s stock worth $478,457,000 after buying an additional 88,163 shares in the last quarter. Legal & General Group Plc purchased a new position in Eversource Energy during the second quarter worth about $359,215,000. Deutsche Bank AG bought a new position in Eversource Energy in the 2nd quarter worth about $311,548,000. Finally, Hsbc Holdings PLC bought a new position in Eversource Energy in the 2nd quarter worth about $272,105,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ES has been the topic of several recent analyst reports. BMO Capital Markets lowered their price target on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. HSBC started coverage on Eversource Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $70.00 price objective for the company. Mizuho upped their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Weiss Ratings raised shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Finally, Barclays began coverage on shares of Eversource Energy in a research report on Friday. They set an “equal weight” rating and a $76.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $73.17.

Eversource Energy Price Performance

ES traded down $2.06 during trading on Friday, reaching $69.86. The stock had a trading volume of 3,424,384 shares, compared to its average volume of 2,920,706. The business has a 50-day moving average of $67.35 and a 200-day moving average of $70.03. Eversource Energy has a one year low of $62.72 and a one year high of $76.57. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80. The stock has a market cap of $26.31 billion, a PE ratio of 18.43, a PEG ratio of 3.03 and a beta of 0.66.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue was down 7.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Eversource Energy will post 4.63 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were given a $0.7875 dividend. The ex-dividend date was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. Eversource Energy’s payout ratio is presently 81.61%.

Eversource Energy Profile

Eversource Energy is a public utility holding company that delivers electricity and natural gas to customers in New England. Its businesses include electric transmission and distribution, natural gas distribution, and related energy services.

The company serves customers in Connecticut, Massachusetts, and New Hampshire through local utility subsidiaries. Its operations include maintaining and upgrading the networks used to deliver energy to homes and businesses.

Eversource traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015 after combining with NSTAR.