Zurich Insurance Group Ltd FI Decreases Holdings in Eversource Energy (ES)
Zurich Insurance Group Ltd FI lessened its holdings in shares of Eversource Energy (NYSE:ES) by 36.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,723 shares of the utilities provider’s stock after selling 35,590 shares during the quarter. Zurich Insurance Group Ltd FI’s holdings in Eversource Energy were worth $3,808,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the business. BB&T Securities LLC acquired a new position in shares of Eversource Energy in the second quarter worth $1,033,000. Teacher Retirement System of Texas purchased a new stake in shares of Eversource Energy during the second quarter worth $200,000. Brookfield Asset Management Inc. purchased a new stake in shares of Eversource Energy during the first quarter worth $106,000. Lazard Asset Management LLC purchased a new stake in shares of Eversource Energy during the first quarter worth $9,867,000. Finally, KCG Holdings Inc. raised its holdings in shares of Eversource Energy by 78.9% during the first quarter. KCG Holdings Inc. now owns 23,680 shares of the utilities provider’s stock worth $1,392,000 after acquiring an additional 10,443 shares in the last quarter. 71.88% of the stock is currently owned by institutional investors.
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Eversource Energy (NYSE:ES) traded up 0.02% during trading on Wednesday, reaching $60.22. The company’s stock had a trading volume of 51,051 shares. Eversource Energy has a 52 week low of $50.56 and a 52 week high of $64.19. The company’s 50 day moving average price is $62.30 and its 200 day moving average price is $61.06. The company has a market cap of $19.08 billion, a P/E ratio of 19.49 and a beta of 0.28.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 EPS. On average, equities analysts anticipate that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders 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 payout ratio is 61.49%.
A number of analysts recently issued reports on ES shares. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, June 21st. Janney Montgomery Scott set a $71.00 target price on Eversource Energy and gave the stock a “buy” rating in a research report on Monday, July 31st. Morgan Stanley raised their price target on Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 10th. Credit Suisse Group reaffirmed a “hold” rating and set a $59.00 price target on shares of Eversource Energy in a research note on Tuesday, June 6th. Finally, Deutsche Bank AG lowered Eversource Energy from a “buy” rating to a “hold” rating and lifted their price target for the company from $61.00 to $61.50 in a report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price 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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