Tocqueville Asset Management L.P. decreased its position in Eversource Energy (NYSE:ES) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,867 shares of the company’s stock after selling 1,480 shares during the period. Tocqueville Asset Management L.P.’s holdings in Eversource Energy were worth $8,019,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of ES. American Century Companies Inc. purchased a new position in Eversource Energy during the second quarter valued at $62,821,000. AMP Capital Investors Ltd increased its position in Eversource Energy by 4.5% in the first quarter. AMP Capital Investors Ltd now owns 978,129 shares of the company’s stock valued at $57,114,000 after buying an additional 42,077 shares during the last quarter. Artemis Investment Management LLP increased its position in Eversource Energy by 64.8% in the second quarter. Artemis Investment Management LLP now owns 295,248 shares of the company’s stock valued at $17,682,000 after buying an additional 116,088 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Eversource Energy by 21.8% in the first quarter. Renaissance Technologies LLC now owns 903,400 shares of the company’s stock worth $52,704,000 after buying an additional 161,400 shares during the period. Finally, Shell Asset Management Co. boosted its stake in shares of Eversource Energy by 17.0% in the second quarter. Shell Asset Management Co. now owns 50,091 shares of the company’s stock worth $3,000,000 after buying an additional 7,273 shares during the period. 69.34% of the stock is owned by institutional investors and hedge funds.
Shares of Eversource Energy (NYSE:ES) traded up 0.88% on Monday, reaching $53.65. The company had a trading volume of 902,384 shares. Eversource Energy has a 52-week low of $48.18 and a 52-week high of $60.44. The stock has a market capitalization of $17.02 billion, a PE ratio of 19.72 and a beta of 0.29. The company has a 50 day moving average price of $54.05 and a 200 day moving average price of $56.28.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The firm had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm earned $0.65 EPS. Eversource Energy’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts anticipate that Eversource Energy will post $2.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.78 annualized dividend and a yield of 3.31%. Eversource Energy’s payout ratio is 65.44%.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday, July 8th. Barclays PLC lowered their target price on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 4th. Deutsche Bank AG reiterated a “hold” rating and set a $58.00 target price (down previously from $59.00) on shares of Eversource Energy in a report on Monday, June 27th. Citigroup Inc. increased their target price on Eversource Energy from $53.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, July 20th. Finally, Williams Capital reiterated a “buy” rating on shares of Eversource Energy in a report on Friday, September 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $59.67.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total value of $547,700.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company’s stock.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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