Victory Capital Management Inc. Buys 43,720 Shares of Eversource Energy (NYSE:ES)

Victory Capital Management Inc. boosted its stake in Eversource Energy (NYSE:ESFree Report) by 10.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 450,007 shares of the utilities provider’s stock after acquiring an additional 43,720 shares during the period. Victory Capital Management Inc. owned 0.13% of Eversource Energy worth $26,168,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. J.W. Cole Advisors Inc. raised its position in shares of Eversource Energy by 8.2% in the second quarter. J.W. Cole Advisors Inc. now owns 5,767 shares of the utilities provider’s stock valued at $409,000 after purchasing an additional 438 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Eversource Energy by 9.8% during the second quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,724,235 shares of the utilities provider’s stock valued at $193,203,000 after acquiring an additional 242,898 shares in the last quarter. Aspire Private Capital LLC grew its stake in Eversource Energy by 10.1% during the third quarter. Aspire Private Capital LLC now owns 6,949 shares of the utilities provider’s stock valued at $404,000 after acquiring an additional 639 shares in the last quarter. IFM Investors Pty Ltd grew its stake in Eversource Energy by 2.5% during the third quarter. IFM Investors Pty Ltd now owns 132,091 shares of the utilities provider’s stock valued at $7,681,000 after acquiring an additional 3,205 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in Eversource Energy by 3.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 154,173 shares of the utilities provider’s stock valued at $10,934,000 after acquiring an additional 5,291 shares in the last quarter. Institutional investors own 80.83% of the company’s stock.

Eversource Energy Trading Down 1.1 %

Shares of ES opened at $54.23 on Thursday. The firm has a market cap of $18.94 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 2.88 and a beta of 0.58. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.50 and a current ratio of 0.56. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $84.00. The firm has a 50 day moving average price of $59.17 and a 200-day moving average price of $60.75.

Eversource Energy (NYSE:ESGet Free Report) last posted its quarterly earnings results on Monday, November 6th. The utilities provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). Eversource Energy had a net margin of 9.52% and a return on equity of 9.64%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The company’s quarterly revenue was down 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that Eversource Energy will post 4.35 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Tuesday, March 5th will be issued a dividend of $0.715 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 dividend on an annualized basis and a yield of 5.27%. Eversource Energy’s dividend payout ratio is currently 80.84%.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Faasen William C. Van sold 2,714 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $54.50, for a total value of $147,913.00. Following the completion of the transaction, the insider now directly owns 19,619 shares in the company, valued at approximately $1,069,235.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. UBS Group boosted their price objective on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, November 7th. Evercore ISI cut shares of Eversource Energy from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $84.00 to $65.00 in a research note on Tuesday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Eversource Energy from $68.00 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, November 29th. Morgan Stanley boosted their price objective on shares of Eversource Energy from $66.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 21st. Finally, Mizuho cut their price target on shares of Eversource Energy from $63.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus price target of $65.33.

View Our Latest Stock Analysis on ES

Eversource Energy 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.

See Also

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

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