Teacher Retirement System of Texas Boosts Holdings in Eversource Energy $ES

Teacher Retirement System of Texas raised its stake in shares of Eversource Energy (NYSE:ES) by 38.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 77,153 shares of the utilities provider’s stock after buying an additional 21,438 shares during the period. Teacher Retirement System of Texas’ holdings in Eversource Energy were worth $5,489,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Neo Ivy Capital Management acquired a new stake in Eversource Energy during the second quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in Eversource Energy in the 3rd quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Eversource Energy during the 3rd quarter valued at approximately $27,000. Trust Co. of Toledo NA OH acquired a new position in shares of Eversource Energy in the 2nd quarter valued at $28,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in Eversource Energy during the second quarter worth $31,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ES shares. Mizuho reaffirmed a “neutral” rating and issued a $68.00 price objective (down previously from $81.00) on shares of Eversource Energy in a report on Thursday, November 20th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, November 24th. BMO Capital Markets reduced their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Finally, UBS Group cut their price objective on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $71.50.

Eversource Energy Trading Up 1.1%

ES stock opened at $70.32 on Tuesday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The business’s 50-day moving average is $67.71 and its 200 day moving average is $68.13. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The stock has a market cap of $26.38 billion, a price-to-earnings ratio of 19.27, a PEG ratio of 2.36 and a beta of 0.76.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The business’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.13 earnings per share. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a dividend of $0.7525 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.3%. Eversource Energy’s dividend payout ratio is presently 82.47%.

Insider Activity

In other news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares in the company, valued at $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.19% of the stock is owned by insiders.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.