BlueCrest Capital Management Ltd Buys New Position in Eversource Energy (ES)
BlueCrest Capital Management Ltd bought a new stake in Eversource Energy (NYSE:ES) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 24,067 shares of the utilities provider’s stock, valued at approximately $1,461,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brookfield Asset Management Inc. acquired a new position in shares of Eversource Energy in the 1st quarter valued at $106,000. Sun Life Financial INC increased its holdings in Eversource Energy by 23,040.0% in the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after acquiring an additional 2,304 shares in the last quarter. NEXT Financial Group Inc increased its holdings in Eversource Energy by 168.9% in the 2nd quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 1,520 shares in the last quarter. Van ECK Associates Corp increased its holdings in Eversource Energy by 18.0% in the 1st quarter. Van ECK Associates Corp now owns 2,736 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 418 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in Eversource Energy by 63.1% in the 2nd 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. Hedge funds and other institutional investors own 71.87% of the company’s stock.
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Several brokerages recently commented on ES. BidaskClub raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Morgan Stanley boosted their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a report on Thursday, August 10th. Janney Montgomery Scott set a $71.00 price target on shares of Eversource Energy and gave the stock a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG lowered shares of Eversource Energy from a “buy” rating to a “hold” rating and boosted their price target for the stock from $61.00 to $61.50 in a report on Monday, July 31st. Finally, Credit Suisse Group boosted their price target on shares of Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Eversource Energy currently has a consensus rating of “Hold” and an average price target of $63.79.
Shares of Eversource Energy (NYSE ES) opened at 62.0392 on Friday. Eversource Energy has a one year low of $50.56 and a one year high of $64.19. The company has a 50-day moving average of $61.90 and a 200 day moving average of $61.10. The stock has a market cap of $19.66 billion, a price-to-earnings ratio of 20.0774 and a beta of 0.28.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.04. The business 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 was down .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.64 EPS. On average, equities analysts forecast that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The company also recently declared 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 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Monday, September 18th. Eversource Energy’s dividend payout ratio (DPR) is presently 61.49%.
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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