BlueMountain Capital Management LLC purchased a new stake in Eversource Energy (NYSE:ES) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 46,961 shares of the utilities provider’s stock, valued at approximately $2,885,000.
Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of Eversource Energy by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 3,344,553 shares of the utilities provider’s stock valued at $196,024,000 after purchasing an additional 184,224 shares in the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of Eversource Energy during the 2nd quarter valued at about $266,000. Dai Ichi Life Insurance Company Ltd boosted its position in shares of Eversource Energy by 13.4% during the 2nd quarter. Dai Ichi Life Insurance Company Ltd now owns 146,986 shares of the utilities provider’s stock valued at $8,615,000 after purchasing an additional 17,405 shares in the last quarter. Cox Capital Co LLC bought a new stake in shares of Eversource Energy during the 2nd quarter valued at about $543,000. Finally, Huntington National Bank boosted its position in shares of Eversource Energy by 18.6% during the 3rd quarter. Huntington National Bank now owns 5,742 shares of the utilities provider’s stock valued at $353,000 after purchasing an additional 899 shares in the last quarter. Institutional investors own 73.54% of the company’s stock.
Several research analysts have issued reports on the company. ValuEngine upgraded Eversource Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Morgan Stanley set a $66.00 price target on Eversource Energy and gave the stock a “hold” rating in a report on Thursday, October 11th. Scotiabank lowered Eversource Energy from a “sector perform” rating to an “underperform” rating in a report on Wednesday, December 12th. Citigroup increased their price target on Eversource Energy from $59.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, September 25th. Finally, Credit Suisse Group upgraded Eversource Energy from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $62.00 to $73.00 in a report on Tuesday, December 4th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. Eversource Energy has an average rating of “Buy” and a consensus target price of $65.73.
Shares of NYSE:ES opened at $67.25 on Tuesday. The company has a market capitalization of $22.11 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 3.62 and a beta of 0.20. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.54 and a current ratio of 0.59. Eversource Energy has a 52-week low of $52.76 and a 52-week high of $70.53.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.03. The business had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a return on equity of 9.32% and a net margin of 12.51%. The company’s quarterly revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.82 earnings per share. Equities research analysts anticipate that Eversource Energy will post 3.27 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Tuesday, December 18th will be paid a $0.505 dividend. This represents a $2.02 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Monday, December 17th. Eversource Energy’s dividend payout ratio (DPR) is presently 64.95%.
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Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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