South State CORP. grew its position in shares of Eversource Energy (NYSE:ES) by 6.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,501 shares of the utilities provider’s stock after buying an additional 504 shares during the quarter. South State CORP.’s holdings in Eversource Energy were worth $736,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of ES. BlackRock Inc. grew its stake in shares of Eversource Energy by 4.1% during the first quarter. BlackRock Inc. now owns 31,649,879 shares of the utilities provider’s stock valued at $2,740,562,000 after purchasing an additional 1,241,107 shares during the last quarter. Magellan Asset Management Ltd raised its holdings in Eversource Energy by 3.8% in the fourth quarter. Magellan Asset Management Ltd now owns 25,533,531 shares of the utilities provider’s stock worth $2,208,906,000 after purchasing an additional 939,501 shares during the period. Wells Fargo & Company MN raised its holdings in Eversource Energy by 0.4% in the fourth quarter. Wells Fargo & Company MN now owns 6,959,664 shares of the utilities provider’s stock worth $602,080,000 after purchasing an additional 30,701 shares during the period. UBS Asset Management Americas Inc. raised its holdings in Eversource Energy by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 4,636,002 shares of the utilities provider’s stock worth $401,061,000 after purchasing an additional 22,513 shares during the period. Finally, Norges Bank acquired a new stake in Eversource Energy in the fourth quarter worth $235,467,000. 77.42% of the stock is currently owned by hedge funds and other institutional investors.
ES has been the topic of several analyst reports. KeyCorp reiterated a “sector weight” rating on shares of Eversource Energy in a report on Tuesday, April 27th. Barclays raised their price objective on shares of Eversource Energy from $90.00 to $93.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 25th. Credit Suisse Group decreased their target price on shares of Eversource Energy from $89.00 to $85.00 and set an “underperform” rating for the company in a research report on Tuesday, May 11th. Wells Fargo & Company decreased their target price on shares of Eversource Energy from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, February 25th. Finally, Williams Capital reissued a “buy” rating on shares of Eversource Energy in a research report on Friday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $89.67.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, May 10th. The utilities provider reported $1.08 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.01). Eversource Energy had a return on equity of 9.24% and a net margin of 13.22%. The business had revenue of $2.83 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the firm earned $1.02 EPS. Eversource Energy’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, analysts expect that Eversource Energy will post 3.84 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Thursday, May 20th will be paid a $0.6025 dividend. This represents a $2.41 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, May 19th. Eversource Energy’s dividend payout ratio (DPR) is 66.21%.
In other news, VP Gregory B. Butler sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 4th. The shares were sold at an average price of $82.16, for a total value of $985,920.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Faasen William C. Van sold 1,813 shares of the business’s stock in a transaction that occurred on Thursday, May 13th. The shares were sold at an average price of $85.15, for a total transaction of $154,376.95. The disclosure for this sale can be found here. Insiders sold a total of 16,814 shares of company stock valued at $1,393,521 in the last quarter. Corporate insiders own 0.34% of the company’s stock.
About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.
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