State Treasurer State of Michigan lifted its stake in Eversource Energy (NYSE:ES) by 0.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 91,364 shares of the utilities provider’s stock after purchasing an additional 600 shares during the quarter. State Treasurer State of Michigan’s holdings in Eversource Energy were worth $6,482,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in Eversource Energy by 3.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,102,792 shares of the utilities provider’s stock valued at $129,195,000 after buying an additional 76,996 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of Eversource Energy by 1.3% during the third quarter. Vanguard Group Inc now owns 34,614,034 shares of the utilities provider’s stock worth $2,126,686,000 after purchasing an additional 436,242 shares in the last quarter. Ipswich Investment Management Co. Inc. purchased a new position in shares of Eversource Energy during the fourth quarter worth about $77,000. Fox Run Management L.L.C. purchased a new position in shares of Eversource Energy during the fourth quarter worth about $356,000. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of Eversource Energy by 3.8% during the fourth quarter. First Citizens Bank & Trust Co. now owns 5,876 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 216 shares in the last quarter. 74.36% of the stock is owned by hedge funds and other institutional investors.
Shares of ES stock opened at $72.59 on Thursday. The company has a quick ratio of 0.44, a current ratio of 0.50 and a debt-to-equity ratio of 1.06. Eversource Energy has a fifty-two week low of $52.76 and a fifty-two week high of $73.27. The company has a market capitalization of $23.16 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 3.82 and a beta of 0.31.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.535 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.95%. Eversource Energy’s dividend payout ratio is presently 65.24%.
Several brokerages have recently commented on ES. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, May 6th. Credit Suisse Group set a $76.00 price objective on Eversource Energy and gave the stock a “buy” rating in a report on Monday, April 22nd. Williams Capital reissued a “buy” rating on shares of Eversource Energy in a report on Monday, March 18th. Macquarie raised Eversource Energy from a “neutral” rating to an “outperform” rating and set a $73.00 target price for the company in a research note on Monday, March 4th. Finally, Bank of America lowered Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 target price for the company. in a research note on Monday, February 25th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $69.90.
In related news, EVP Leon J. Olivier sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $72.95, for a total transaction of $510,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Gregory B. Butler sold 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $68.63, for a total value of $789,245.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 118,201 shares of company stock valued at $8,238,010. 0.37% of the stock is owned by corporate insiders.
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Eversource Energy Company Profile
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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