Louisiana State Employees Retirement System raised its holdings in Eversource Energy (NYSE:ES) by 22.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,300 shares of the utilities provider’s stock after purchasing an additional 3,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Eversource Energy were worth $1,843,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the business. Advisory Alpha LLC bought a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $30,000. ELM Advisors LLC acquired a new position in Eversource Energy in the 4th quarter worth about $35,000. Adams Wealth Management acquired a new position in Eversource Energy in the 3rd quarter worth about $39,000. Hall Laurie J Trustee acquired a new position in Eversource Energy in the 3rd quarter worth about $42,000. Finally, CVA Family Office LLC acquired a new position in Eversource Energy in the 3rd quarter worth about $58,000. 73.10% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on ES shares. Morgan Stanley lowered their price objective on Eversource Energy from $89.00 to $83.00 and set an “underweight” rating on the stock in a report on Tuesday, December 15th. KeyCorp decreased their target price on Eversource Energy from $98.00 to $93.00 and set an “overweight” rating for the company in a research note on Tuesday. Credit Suisse Group raised their price objective on Eversource Energy from $81.00 to $82.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 3rd. Barclays raised their price objective on Eversource Energy from $88.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 18th. Finally, BidaskClub downgraded Eversource Energy from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 8th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $91.60.
Eversource Energy (NYSE:ES) last released its earnings results on Friday, November 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.02. The business had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.29 billion. Eversource Energy had a return on equity of 8.88% and a net margin of 13.57%. Eversource Energy’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. Equities analysts anticipate that Eversource Energy will post 3.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Tuesday, December 22nd were given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date of this dividend was Monday, December 21st. This is an increase from Eversource Energy’s previous quarterly dividend of $0.57. Eversource Energy’s payout ratio is 65.80%.
About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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