Teacher Retirement System of Texas Boosts Stock Position in Eversource Energy $ES

Teacher Retirement System of Texas increased its stake in shares of Eversource Energy (NYSE:ES) by 38.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 77,153 shares of the utilities provider’s stock after acquiring an additional 21,438 shares during the quarter. Teacher Retirement System of Texas’ holdings in Eversource Energy were worth $5,489,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Eversource Energy by 7.9% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 419,251 shares of the utilities provider’s stock valued at $26,673,000 after buying an additional 30,641 shares during the period. Hilltop National Bank acquired a new position in Eversource Energy in the second quarter valued at approximately $32,000. Advisors Asset Management Inc. grew its position in Eversource Energy by 31.1% in the second quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock worth $2,506,000 after acquiring an additional 9,350 shares during the period. Vanguard Group Inc. grew its position in Eversource Energy by 1.5% in the second quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock worth $2,904,422,000 after acquiring an additional 691,165 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its stake in Eversource Energy by 34.0% during the third quarter. Oregon Public Employees Retirement Fund now owns 42,460 shares of the utilities provider’s stock worth $3,021,000 after acquiring an additional 10,775 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 1.1%

Shares of ES opened at $70.32 on Tuesday. The company’s 50-day simple moving average is $67.71 and its 200-day simple moving average is $68.13. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The stock has a market capitalization of $26.38 billion, a PE ratio of 19.27, a P/E/G ratio of 2.36 and a beta of 0.76.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 earnings per share. Analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were given a dividend of $0.7525 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.3%. Eversource Energy’s dividend payout ratio is currently 82.47%.

Wall Street Analysts Forecast Growth

ES has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. UBS Group dropped their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. TD Cowen assumed coverage on shares of Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective on the stock. Finally, BMO Capital Markets lowered their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday, November 6th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.50.

Insider Activity

In related news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.