South State CORP. increased its position in Eversource Energy (NYSE:ES) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,501 shares of the utilities provider’s stock after buying an additional 504 shares during the quarter. South State CORP.’s holdings in Eversource Energy were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. E Fund Management Co. Ltd. purchased a new position in shares of Eversource Energy in the 1st quarter worth $52,000. Norinchukin Bank The raised its position in Eversource Energy by 1.7% in the first quarter. Norinchukin Bank The now owns 28,531 shares of the utilities provider’s stock valued at $2,470,000 after purchasing an additional 473 shares during the period. Elo Mutual Pension Insurance Co raised its position in Eversource Energy by 1.5% in the first quarter. Elo Mutual Pension Insurance Co now owns 24,732 shares of the utilities provider’s stock valued at $2,142,000 after purchasing an additional 369 shares during the period. Mercer Global Advisors Inc. ADV raised its position in Eversource Energy by 2.1% in the first quarter. Mercer Global Advisors Inc. ADV now owns 40,949 shares of the utilities provider’s stock valued at $3,546,000 after purchasing an additional 840 shares during the period. Finally, Essex Financial Services Inc. raised its position in Eversource Energy by 10.3% in the first quarter. Essex Financial Services Inc. now owns 12,399 shares of the utilities provider’s stock valued at $1,074,000 after purchasing an additional 1,160 shares during the period. 77.42% of the stock is currently owned by institutional investors and hedge funds.
In other Eversource Energy news, insider Faasen William C. Van sold 1,813 shares of the company’s stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $85.15, for a total value of $154,376.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Gregory B. Butler sold 12,000 shares of the company’s stock in a transaction on Friday, June 4th. The shares were sold at an average price of $82.16, for a total value of $985,920.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,814 shares of company stock worth $1,393,521. 0.34% of the stock is owned by corporate insiders.
Eversource Energy (NYSE:ES) last announced its earnings results on Monday, May 10th. The utilities provider reported $1.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.01). Eversource Energy had a return on equity of 9.24% and a net margin of 13.22%. The firm had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm earned $1.02 EPS. Eversource Energy’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, analysts expect that Eversource Energy will post 3.84 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Thursday, May 20th will be issued a dividend of $0.6025 per share. The ex-dividend date is Wednesday, May 19th. This represents a $2.41 annualized dividend and a yield of 2.91%. Eversource Energy’s payout ratio is 66.21%.
A number of analysts have recently issued reports on the company. Credit Suisse Group dropped their target price on Eversource Energy from $89.00 to $85.00 and set an “underperform” rating on the stock in a research report on Tuesday, May 11th. Wells Fargo & Company decreased their price target on Eversource Energy from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, February 25th. Morgan Stanley lifted their price target on Eversource Energy from $80.00 to $87.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 20th. Williams Capital restated a “buy” rating on shares of Eversource Energy in a research note on Friday, April 23rd. Finally, Scotiabank upgraded Eversource Energy from a “sector underperform” rating to a “sector perform” rating and set a $87.00 target price for the company in a research note on Friday, April 30th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Eversource Energy presently has a consensus rating of “Hold” and an average target price of $89.67.
Eversource Energy Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.
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