Eversource Energy (ES) Position Increased by Victory Capital Management Inc.
Victory Capital Management Inc. raised its position in shares of Eversource Energy (NYSE:ES) by 3.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,868 shares of the company’s stock after buying an additional 781 shares during the period. Victory Capital Management Inc.’s holdings in Eversource Energy were worth $1,250,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Eversource Energy by 23.7% in the first quarter. Wellington Management Group LLP now owns 15,277,277 shares of the company’s stock worth $891,277,000 after buying an additional 2,927,198 shares during the period. State Street Corp increased its stake in shares of Eversource Energy by 7.8% in the first quarter. State Street Corp now owns 16,077,054 shares of the company’s stock worth $937,936,000 after buying an additional 1,157,374 shares during the period. American Century Companies Inc. purchased a new stake in shares of Eversource Energy during the second quarter worth $62,821,000. NN Investment Partners Holdings N.V. purchased a new stake in shares of Eversource Energy during the first quarter worth $59,370,000. Finally, Emerald Acquisition Ltd. purchased a new stake in shares of Eversource Energy during the second quarter worth $50,939,000. 69.38% of the stock is currently owned by institutional investors.
Shares of Eversource Energy (NYSE:ES) traded up 1.34% during midday trading on Wednesday, hitting $55.16. The stock had a trading volume of 902,574 shares. Eversource Energy has a one year low of $47.28 and a one year high of $60.44. The firm’s 50-day moving average price is $55.35 and its 200-day moving average price is $56.67. The firm has a market capitalization of $17.50 billion, a PE ratio of 20.28 and a beta of 0.32.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same period in the prior year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts predict that Eversource Energy will post $2.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be issued a dividend of $0.445 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.78 dividend on an annualized basis and a yield of 3.27%. Eversource Energy’s dividend payout ratio is 65.44%.
A number of research analysts recently commented on the company. Zacks Investment Research downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday, July 8th. Deutsche Bank AG reissued a “hold” rating and issued a $58.00 price target (down previously from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th. Williams Capital reissued a “buy” rating on shares of Eversource Energy in a research note on Friday, September 2nd. Citigroup Inc. increased their price target on Eversource Energy from $53.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 20th. Finally, Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $61.29.
In related news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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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