PNC Financial Services Group Inc. trimmed its position in shares of Eversource Energy (NYSE:ES – Get Rating) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 437,504 shares of the utilities provider’s stock after selling 13,338 shares during the quarter. PNC Financial Services Group Inc. owned 0.13% of Eversource Energy worth $36,680,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Eversource Energy by 26.9% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 411,481 shares of the utilities provider’s stock worth $34,499,000 after acquiring an additional 87,334 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Eversource Energy by 8.4% during the fourth quarter. Bahl & Gaynor Inc. now owns 784,463 shares of the utilities provider’s stock worth $65,769,000 after buying an additional 60,546 shares in the last quarter. CI Investments Inc. increased its stake in shares of Eversource Energy by 112.7% during the fourth quarter. CI Investments Inc. now owns 968 shares of the utilities provider’s stock worth $81,000 after buying an additional 513 shares during the period. New Hampshire Trust purchased a new stake in shares of Eversource Energy during the fourth quarter worth approximately $27,000. Finally, FDx Advisors Inc. lifted its stake in Eversource Energy by 24.6% in the fourth quarter. FDx Advisors Inc. now owns 34,667 shares of the utilities provider’s stock worth $2,907,000 after acquiring an additional 6,844 shares during the last quarter. 77.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on ES. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Tuesday, March 21st. Evercore ISI raised Eversource Energy from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $86.00 to $92.00 in a research report on Tuesday, January 24th. Argus lowered their price target on Eversource Energy from $95.00 to $85.00 in a report on Thursday, March 30th. Wolfe Research cut shares of Eversource Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 21st. Finally, Citigroup lowered their target price on shares of Eversource Energy from $91.00 to $86.00 and set a “neutral” rating for the company in a report on Thursday, February 16th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $87.58.
Eversource Energy Trading Down 0.6 %
Shares of Eversource Energy stock opened at $73.17 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.65 and a current ratio of 0.65. The company has a market capitalization of $25.52 billion, a P/E ratio of 17.55, a PEG ratio of 2.65 and a beta of 0.46. Eversource Energy has a 1 year low of $70.54 and a 1 year high of $94.41. The company’s fifty day moving average is $77.25 and its two-hundred day moving average is $79.60.
Eversource Energy (NYSE:ES – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.24 billion. Eversource Energy had a return on equity of 9.51% and a net margin of 11.52%. The business’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the company posted $1.30 earnings per share. Analysts forecast that Eversource Energy will post 4.36 earnings per share for the current year.
Eversource Energy Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, May 18th will be issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, May 17th. Eversource Energy’s dividend payout ratio is presently 64.75%.
Eversource Energy Profile
Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.
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