Acadian Asset Management LLC Boosts Stock Position in Eversource Energy (NYSE:ES)

Acadian Asset Management LLC lifted its holdings in shares of Eversource Energy (NYSE:ES) by 1,585.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,728 shares of the utilities provider’s stock after buying an additional 11,032 shares during the quarter. Acadian Asset Management LLC’s holdings in Eversource Energy were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ES. Mitsubishi UFJ Trust & Banking Corp raised its position in Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after acquiring an additional 1,524,341 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares in the last quarter. Magellan Asset Management Ltd raised its position in shares of Eversource Energy by 5.4% during the 4th 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. ClearBridge Investments Ltd purchased a new position in Eversource Energy in the 1st quarter valued at about $156,093,000. Finally, Zimmer Partners LP boosted its holdings in Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after buying an additional 2,231,585 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Bank of America increased their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. BMO Capital Markets lowered their target price on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, August 19th. Morgan Stanley increased their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Company raised their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and an average target price of $68.93.

Eversource Energy Stock Down 0.2 %

ES stock opened at $68.23 on Wednesday. Eversource Energy has a one year low of $52.03 and a one year high of $69.01. The firm has a market cap of $24.03 billion, a PE ratio of -57.82, a PEG ratio of 2.59 and a beta of 0.61. The firm’s 50 day moving average price is $65.16 and its 200-day moving average price is $61.17. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a $0.715 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.19%. Eversource Energy’s dividend payout ratio (DPR) is currently -242.37%.

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.