Vinva Investment Management Ltd Acquires New Stake in Eversource Energy (NYSE:ES)

Vinva Investment Management Ltd acquired a new stake in shares of Eversource Energy (NYSE:ESFree Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,063 shares of the utilities provider’s stock, valued at approximately $500,000.

Several other large investors also recently added to or reduced their stakes in the business. Morningstar Investment Services LLC bought a new stake in Eversource Energy during the fourth quarter valued at $633,000. Cibc World Markets Corp lifted its stake in Eversource Energy by 133.3% during the fourth quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock worth $2,775,000 after purchasing an additional 25,688 shares during the last quarter. Magellan Asset Management Ltd lifted its stake in Eversource Energy by 5.4% during the fourth quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock worth $189,301,000 after purchasing an additional 156,534 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its stake in Eversource Energy by 41.7% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 38,975 shares of the utilities provider’s stock worth $2,406,000 after purchasing an additional 11,467 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its stake in Eversource Energy by 7.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 34,578 shares of the utilities provider’s stock worth $2,134,000 after purchasing an additional 2,248 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. BMO Capital Markets lifted their price target on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Bank of America lifted their price target on Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. Argus dropped their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Finally, Citigroup boosted their target price on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $66.07.

Get Our Latest Stock Analysis on Eversource Energy

Eversource Energy Stock Down 0.4 %

Shares of NYSE:ES opened at $58.58 on Friday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The company has a market cap of $20.64 billion, a PE ratio of -49.64, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. The stock’s 50-day moving average is $59.62 and its 200 day moving average is $58.93.

Eversource Energy (NYSE:ESGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the business earned $1.41 EPS. Eversource Energy’s revenue was down 12.2% compared to the same quarter last year. Sell-side analysts anticipate that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.88%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Eversource Energy Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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