Eversource Energy (ES) Stake Lessened by Employees Retirement System of Texas
Employees Retirement System of Texas cut its holdings in Eversource Energy (NYSE:ES) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,000 shares of the utilities provider’s stock after selling 1,000 shares during the period. Employees Retirement System of Texas’ holdings in Eversource Energy were worth $971,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Eversource Energy by 2.4% in the second quarter. Vanguard Group Inc. now owns 33,055,292 shares of the utilities provider’s stock valued at $2,006,787,000 after acquiring an additional 781,327 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Eversource Energy by 1.6% in the second quarter. BlackRock Inc. now owns 24,355,049 shares of the utilities provider’s stock valued at $1,478,596,000 after acquiring an additional 374,229 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Eversource Energy by 9.8% in the first quarter. Geode Capital Management LLC now owns 3,186,475 shares of the utilities provider’s stock valued at $187,038,000 after acquiring an additional 285,575 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Eversource Energy by 7.5% in the second quarter. Legal & General Group Plc now owns 2,657,288 shares of the utilities provider’s stock valued at $161,331,000 after acquiring an additional 186,030 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Eversource Energy by 382.4% in the second quarter. Principal Financial Group Inc. now owns 2,326,749 shares of the utilities provider’s stock valued at $141,257,000 after acquiring an additional 1,844,447 shares in the last quarter. 71.90% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on ES shares. Janney Montgomery Scott set a $71.00 target price on Eversource Energy and gave the company a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG lowered Eversource Energy from a “buy” rating to a “hold” rating and increased their price objective for the company from $61.00 to $61.50 in a report on Monday, July 31st. Morgan Stanley reissued an “equal weight” rating on shares of Eversource Energy in a report on Tuesday, July 11th. Credit Suisse Group increased their price objective on Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $63.79.
Eversource Energy (NYSE ES) opened at 61.20 on Tuesday. The company has a market capitalization of $19.39 billion, a price-to-earnings ratio of 19.81 and a beta of 0.29. The firm’s 50-day moving average price is $61.82 and its 200 day moving average price is $61.14. Eversource Energy has a one year low of $50.56 and a one year high of $64.19.
Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The firm’s revenue was down .2% on a year-over-year basis. On average, equities research analysts expect that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Monday, September 18th. Eversource Energy’s dividend payout ratio (DPR) is presently 61.49%.
Eversource Energy Company 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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