Citigroup Inc. lifted its holdings in Eversource Energy (NYSE:ES) by 22.7% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 313,126 shares of the utilities provider’s stock after acquiring an additional 57,915 shares during the period. Citigroup Inc.’s holdings in Eversource Energy were worth $25,125,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eaton Vance Management boosted its stake in shares of Eversource Energy by 1.0% in the first quarter. Eaton Vance Management now owns 168,468 shares of the utilities provider’s stock worth $14,588,000 after acquiring an additional 1,642 shares during the period. Geode Capital Management LLC boosted its stake in Eversource Energy by 1.5% during the first quarter. Geode Capital Management LLC now owns 6,064,815 shares of the utilities provider’s stock valued at $523,800,000 after buying an additional 91,796 shares during the last quarter. Bank of Nova Scotia boosted its stake in Eversource Energy by 56.7% during the first quarter. Bank of Nova Scotia now owns 92,318 shares of the utilities provider’s stock valued at $7,994,000 after buying an additional 33,403 shares during the last quarter. Aspire Private Capital LLC boosted its stake in Eversource Energy by 119.2% during the first quarter. Aspire Private Capital LLC now owns 2,766 shares of the utilities provider’s stock valued at $240,000 after buying an additional 1,504 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Eversource Energy by 13.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 63,554 shares of the utilities provider’s stock valued at $5,100,000 after buying an additional 7,349 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.
ES has been the subject of a number of research reports. Barclays increased their price target on Eversource Energy from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Tuesday, May 25th. Morgan Stanley increased their price target on Eversource Energy from $81.00 to $85.00 and gave the company an “underweight” rating in a research note on Thursday, August 19th. Credit Suisse Group initiated coverage on Eversource Energy in a research note on Wednesday, July 14th. They set an “underperform” rating and a $85.00 price target for the company. Finally, Mizuho dropped their price target on Eversource Energy from $85.00 to $82.00 and set an “underperform” rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $88.38.
NYSE:ES opened at $83.30 on Friday. The firm has a market capitalization of $28.63 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 3.45 and a beta of 0.31. Eversource Energy has a 1 year low of $76.64 and a 1 year high of $96.66. The business has a 50 day simple moving average of $88.36 and a 200-day simple moving average of $85.28. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.64 and a quick ratio of 0.60.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 29th. The utilities provider reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.01). Eversource Energy had a return on equity of 9.27% and a net margin of 13.11%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $2.18 billion. As a group, analysts expect that Eversource Energy will post 3.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be issued a $0.6025 dividend. The ex-dividend date of this dividend is Wednesday, September 15th. This represents a $2.41 annualized dividend and a dividend yield of 2.89%. Eversource Energy’s payout ratio is 66.21%.
Eversource Energy Profile
Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Water Distribution and Natural Gas Distribution. The Electric Distribution segment distributes electricity to retail customers.
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