Eversource Energy $ES Shares Bought by AGF Management Ltd.

AGF Management Ltd. raised its holdings in Eversource Energy (NYSE:ES) by 12.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,868 shares of the utilities provider’s stock after purchasing an additional 6,229 shares during the period. AGF Management Ltd.’s holdings in Eversource Energy were worth $3,618,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Eversource Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock worth $2,792,559,000 after purchasing an additional 351,780 shares during the last quarter. Wellington Management Group LLP increased its position in Eversource Energy by 4.5% during the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock worth $1,068,901,000 after buying an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd raised its holdings in shares of Eversource Energy by 6.2% in the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock worth $427,090,000 after acquiring an additional 401,866 shares during the last quarter. Invesco Ltd. lifted its position in shares of Eversource Energy by 0.5% in the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock valued at $374,920,000 after acquiring an additional 32,304 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Eversource Energy by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock valued at $354,177,000 after acquiring an additional 185,146 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ES shares. Mizuho boosted their target price on shares of Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. UBS Group downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Thursday. Jefferies Financial Group lifted their target price on shares of Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 22nd. Finally, BMO Capital Markets cut their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $72.70.

Eversource Energy Trading Up 2.1%

Shares of ES stock opened at $73.07 on Monday. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The firm’s 50 day moving average price is $69.81 and its two-hundred day moving average price is $66.10. The stock has a market cap of $27.12 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 2.62 and a beta of 0.69.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the business earned $1.13 earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a $0.7525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.1%. Eversource Energy’s dividend payout ratio (DPR) is 82.47%.

Insider Activity at Eversource Energy

In related news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

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.