ETRADE Capital Management LLC Raises Stake in Eversource Energy (ES)
ETRADE Capital Management LLC lifted its stake in shares of Eversource Energy (NYSE:ES) by 25.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,512 shares of the utilities provider’s stock after acquiring an additional 1,117 shares during the period. ETRADE Capital Management LLC’s holdings in Eversource Energy were worth $335,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of the company. UBS Asset Management Americas Inc. grew its position in Eversource Energy by 17.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,127,906 shares of the utilities provider’s stock valued at $66,298,000 after purchasing an additional 165,069 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Eversource Energy by 58.2% in the first quarter. Envestnet Asset Management Inc. now owns 9,325 shares of the utilities provider’s stock valued at $547,000 after purchasing an additional 3,432 shares in the last quarter. Pacer Advisors Inc. grew its position in Eversource Energy by 3.3% in the first quarter. Pacer Advisors Inc. now owns 6,123 shares of the utilities provider’s stock valued at $360,000 after purchasing an additional 194 shares in the last quarter. Clinton Group Inc. grew its position in Eversource Energy by 84.9% in the first quarter. Clinton Group Inc. now owns 20,023 shares of the utilities provider’s stock valued at $1,177,000 after purchasing an additional 9,196 shares in the last quarter. Finally, Cipher Capital LP grew its position in Eversource Energy by 170.5% in the first quarter. Cipher Capital LP now owns 66,070 shares of the utilities provider’s stock valued at $3,883,000 after purchasing an additional 41,642 shares in the last quarter. 71.88% of the stock is owned by institutional investors.
ES has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, June 21st. Morgan Stanley reaffirmed an “equal weight” rating on shares of Eversource Energy in a research report on Tuesday, July 11th. Credit Suisse Group reaffirmed a “hold” rating and issued a $59.00 target price on shares of Eversource Energy in a research report on Tuesday, June 6th. BidaskClub downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Janney Montgomery Scott set a $71.00 target price on shares of Eversource Energy and gave the company a “buy” rating in a research report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Eversource Energy has an average rating of “Hold” and a consensus price target of $63.50.
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Eversource Energy (ES) opened at 60.44 on Friday. The company has a market cap of $19.15 billion, a P/E ratio of 19.56 and a beta of 0.29. Eversource Energy has a 12 month low of $50.56 and a 12 month high of $64.19. The stock has a 50 day moving average of $62.57 and a 200-day moving average of $60.87.
Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The firm had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The business’s revenue was down .2% on a year-over-year basis. Equities research analysts expect that Eversource Energy will post $3.15 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were paid a $0.475 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.90 annualized dividend and a dividend yield of 3.14%. Eversource Energy’s payout ratio is 61.49%.
Eversource Energy Profile
Eversource Energy 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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