Panagora Asset Management Inc. reduced its holdings in Eversource Energy (NYSE:ES) by 0.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 642,395 shares of the utilities provider’s stock after selling 635 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.19% of Eversource Energy worth $55,625,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in shares of Eversource Energy by 0.9% during the first quarter. The Manufacturers Life Insurance Company now owns 819,148 shares of the utilities provider’s stock worth $70,930,000 after buying an additional 7,443 shares during the period. Alliancebernstein L.P. grew its holdings in Eversource Energy by 20.6% in the fourth 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 period. Toronto Dominion Bank grew its holdings in Eversource Energy by 11.3% in the fourth 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 period. Rosenberg Matthew Hamilton acquired a new stake in Eversource Energy in the first quarter worth $52,000. Finally, Bank of Nova Scotia grew its holdings in Eversource Energy by 56.7% in the first quarter. Bank of Nova Scotia now owns 92,318 shares of the utilities provider’s stock worth $7,994,000 after purchasing an additional 33,403 shares during the period. Institutional investors own 77.42% of the company’s stock.
A number of research firms have commented on ES. Credit Suisse Group reduced their price target on shares of Eversource Energy from $89.00 to $85.00 and set an “underperform” rating for the company in a report on Tuesday, May 11th. Barclays raised their price objective on shares of Eversource Energy from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Friday, April 23rd. KeyCorp reaffirmed a “sector weight” rating on shares of Eversource Energy in a research note on Tuesday, April 27th. Finally, Scotiabank raised shares of Eversource Energy from a “sector underperform” rating to a “sector perform” rating and set a $87.00 price target on the stock in a research report on Friday, April 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $89.67.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, May 10th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.01). Eversource Energy had a net margin of 13.22% and a return on equity of 9.24%. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period last year, the firm earned $1.02 EPS. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities research 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 $0.6025 dividend. This represents a $2.41 annualized dividend and a dividend yield of 2.91%. The ex-dividend date of this dividend is Wednesday, May 19th. Eversource Energy’s dividend payout ratio (DPR) is presently 66.21%.
In other news, VP Jay S. Buth sold 3,001 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which is available at the SEC website. 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. Over the last quarter, insiders have sold 16,814 shares of company stock worth $1,393,521. 0.34% of the stock is currently owned by corporate insiders.
About Eversource Energy
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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