Eversource Energy (ES) Shares Bought by Sun Life Financial INC
Sun Life Financial INC raised its stake in shares of Eversource Energy (NYSE:ES) by 23,040.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,314 shares of the utilities provider’s stock after purchasing an additional 2,304 shares during the quarter. Sun Life Financial INC’s holdings in Eversource Energy were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in the business. Brookfield Asset Management Inc. purchased a new stake in Eversource Energy in the first quarter worth approximately $106,000. NEXT Financial Group Inc grew its position in Eversource Energy by 168.9% during the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 1,520 shares during the last quarter. Van ECK Associates Corp grew its position in Eversource Energy by 18.0% during the first quarter. Van ECK Associates Corp now owns 2,736 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 418 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Eversource Energy by 63.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 1,265 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Eversource Energy during the second quarter worth approximately $200,000. Institutional investors and hedge funds own 71.88% of the company’s stock.
Shares of Eversource Energy (NYSE ES) traded up 0.03% on Wednesday, reaching $60.23. 49,642 shares of the company’s stock were exchanged. The company’s 50 day moving average is $62.30 and its 200-day moving average is $61.06. Eversource Energy has a one year low of $50.56 and a one year high of $64.19. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 19.49 and a beta of 0.28.
Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post $3.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Tuesday, September 19th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date of this dividend was Monday, September 18th. Eversource Energy’s dividend payout ratio is currently 61.49%.
A number of equities analysts have commented on ES shares. Credit Suisse Group lifted their price target on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Morgan Stanley increased their price objective on Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Janney Montgomery Scott set a $71.00 target price on shares of Eversource Energy and gave the stock a “buy” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG cut shares of Eversource Energy from a “buy” rating to a “hold” rating and raised their target price for the stock from $61.00 to $61.50 in a report on Monday, July 31st. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $63.94.
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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