The Manufacturers Life Insurance Company Acquires 20,462 Shares of Eversource Energy (NYSE:ES)

The Manufacturers Life Insurance Company boosted its holdings in shares of Eversource Energy (NYSE:ES) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 771,007 shares of the utilities provider’s stock after buying an additional 20,462 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.22% of Eversource Energy worth $43,724,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in ES. ClearBridge Investments Ltd bought a new stake in Eversource Energy during the first quarter valued at $156,093,000. Zimmer Partners LP lifted its stake in Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake 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 purchasing an additional 1,524,341 shares during the last quarter. M&G Plc bought a new stake in Eversource Energy during the first quarter worth about $83,539,000. Finally, BROOKFIELD Corp ON bought a new stake in Eversource Energy during the first quarter worth about $65,389,000. Institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ES shares. Barclays lifted their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock 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 report on Saturday, July 27th. Scotiabank lifted their price objective on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley boosted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average price target of $68.93.

Insider Activity at Eversource Energy

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

Eversource Energy Stock Up 2.3 %

ES opened at $67.52 on Monday. The firm has a 50-day simple moving average of $66.23 and a two-hundred day simple moving average of $61.59. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The company has a market capitalization of $23.78 billion, a PE ratio of -57.22, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the firm earned $1.00 EPS. The business’s revenue was down 3.7% on a year-over-year basis. Analysts forecast that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared 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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date is Monday, September 23rd. Eversource Energy’s payout ratio is -242.37%.

Eversource Energy Profile

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.