State Street Corp Has $947.81 Million Stake in Eversource Energy (ES)
State Street Corp reduced its stake in shares of Eversource Energy (NYSE:ES) by 1.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,612,178 shares of the utilities provider’s stock after selling 260,412 shares during the quarter. State Street Corp owned 4.93% of Eversource Energy worth $947,814,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ES. BlackRock Inc. grew its holdings in shares of Eversource Energy by 2,396.3% during the 1st quarter. BlackRock Inc. now owns 23,980,820 shares of the utilities provider’s stock worth $1,409,592,000 after purchasing an additional 23,020,171 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Eversource Energy by 382.4% during the 2nd quarter. Principal Financial Group Inc. now owns 2,326,749 shares of the utilities provider’s stock worth $141,257,000 after purchasing an additional 1,844,447 shares in the last quarter. Magellan Asset Management Ltd acquired a new stake in shares of Eversource Energy during the 1st quarter worth $82,000,000. Vanguard Group Inc. grew its holdings in shares of Eversource Energy by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 32,273,965 shares of the utilities provider’s stock worth $1,897,064,000 after purchasing an additional 1,078,978 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Eversource Energy by 1,617.7% during the 2nd quarter. Janus Henderson Group PLC now owns 766,269 shares of the utilities provider’s stock worth $46,520,000 after purchasing an additional 721,660 shares in the last quarter. 71.87% of the stock is currently owned by institutional investors.
Eversource Energy (ES) traded up 0.05% during mid-day trading on Monday, reaching $60.41. The company had a trading volume of 163,898 shares. The stock has a 50 day moving average price of $62.13 and a 200-day moving average price of $61.07. Eversource Energy has a 12-month low of $50.56 and a 12-month high of $64.19. The stock has a market capitalization of $19.14 billion, a P/E ratio of 19.55 and a beta of 0.29.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the prior year, the business earned $0.64 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Equities analysts anticipate that Eversource Energy will post $3.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Monday, September 18th. Eversource Energy’s payout ratio is currently 61.49%.
Several analysts have recently issued reports on the company. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Morgan Stanley raised 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 price objective on Eversource Energy and gave the company a “buy” rating in a research note on Monday, July 31st. Deutsche Bank AG lowered Eversource Energy from a “buy” rating to a “hold” rating and raised their price objective for the company from $61.00 to $61.50 in a research note on Monday, July 31st. Finally, Credit Suisse Group raised their price objective on Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $63.19.
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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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