IFM Investors Pty Ltd Boosts Stock Holdings in Eversource Energy (NYSE:ES)
IFM Investors Pty Ltd boosted its position in Eversource Energy (NYSE:ES) by 11.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,758 shares of the utilities provider’s stock after purchasing an additional 2,351 shares during the period. IFM Investors Pty Ltd’s holdings in Eversource Energy were worth $1,724,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of ES. Centersquare Investment Management LLC lifted its stake in Eversource Energy by 368,643.4% in the first quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 3,575,841 shares during the last quarter. Norges Bank purchased a new position in Eversource Energy in the fourth quarter valued at approximately $166,695,000. Pictet Asset Management Ltd. lifted its stake in Eversource Energy by 94.6% in the first quarter. Pictet Asset Management Ltd. now owns 2,559,184 shares of the utilities provider’s stock valued at $181,574,000 after purchasing an additional 1,243,788 shares during the last quarter. American Century Companies Inc. lifted its stake in Eversource Energy by 35.7% in the fourth quarter. American Century Companies Inc. now owns 4,563,601 shares of the utilities provider’s stock valued at $296,817,000 after purchasing an additional 1,200,309 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in Eversource Energy by 189.7% in the first quarter. Janus Henderson Group PLC now owns 1,536,032 shares of the utilities provider’s stock valued at $108,980,000 after purchasing an additional 1,005,866 shares during the last quarter. Institutional investors and hedge funds own 73.85% of the company’s stock.
Several equities analysts recently commented on ES shares. Bank of America set a $68.00 price objective on Inphi and gave the company a “buy” rating in a research note on Monday, July 15th. UBS Group reiterated a “buy” rating on shares of Fortis in a research note on Friday, June 7th. Zacks Investment Research downgraded Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. Morgan Stanley set a $18.00 target price on PG&E and gave the stock a “hold” rating in a research report on Friday, June 14th. Finally, Barclays downgraded to an “underweight” rating and set a GBX 4,400 ($57.49) target price on the stock. in a research report on Tuesday, June 18th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $75.00.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.06. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.26 billion. Eversource Energy had a net margin of 12.50% and a return on equity of 9.43%. The business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. As a group, equities research analysts forecast that Eversource Energy will post 3.44 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 23rd were issued a $0.535 dividend. The ex-dividend date was Wednesday, May 22nd. This represents a $2.14 annualized dividend and a dividend yield of 2.81%. Eversource Energy’s payout ratio is currently 65.24%.
In other news, EVP Leon J. Olivier sold 7,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $72.95, for a total value of $510,650.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.37% of the company’s stock.
Eversource Energy Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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