Eversource Energy (NYSE:ES) Shares Bought by New York State Teachers Retirement System

Posted by Defense World Staff on Apr 11th, 2023

New York State Teachers Retirement System raised its holdings in shares of Eversource Energy (NYSE:ES – Get Rating) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 384,873 shares of the utilities provider’s stock after purchasing an additional 6,021 shares during the period. New York State Teachers Retirement System owned 0.11% of Eversource Energy worth $32,268,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ES. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Eversource Energy during the 1st quarter valued at about $1,257,000. Dimensional Fund Advisors LP raised its position in shares of Eversource Energy by 16.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock valued at $99,716,000 after purchasing an additional 158,844 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Eversource Energy by 8.5% in the 1st quarter. Vontobel Holding Ltd. now owns 7,816 shares of the utilities provider’s stock worth $693,000 after purchasing an additional 613 shares in the last quarter. Sei Investments Co. grew its position in Eversource Energy by 1.5% during the 1st quarter. Sei Investments Co. now owns 153,081 shares of the utilities provider’s stock worth $13,510,000 after purchasing an additional 2,219 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Eversource Energy by 76.9% in the first quarter. Allianz Asset Management GmbH now owns 133,385 shares of the utilities provider’s stock worth $11,763,000 after buying an additional 57,995 shares during the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Faasen William C. Van sold 1,943 shares of the firm’s stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $81.08, for a total value of $157,538.44. Following the transaction, the insider now owns 18,841 shares in the company, valued at approximately $1,527,628.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Eversource Energy Price Performance

Eversource Energy stock opened at $80.46 on Tuesday. The stock has a market capitalization of $28.05 billion, a P/E ratio of 19.92, a P/E/G ratio of 2.85 and a beta of 0.46. The company’s fifty day moving average price is $77.67 and its 200 day moving average price is $79.45. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.57 and a current ratio of 0.62. Eversource Energy has a 1 year low of $70.54 and a 1 year high of $94.63.

Eversource Energy (NYSE:ES – Get Rating) last announced its earnings results on Monday, February 13th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.02). Eversource Energy had a net margin of 11.43% and a return on equity of 9.38%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter last year, the business earned $0.91 EPS. The firm’s revenue for the quarter was up 22.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Eversource Energy will post 4.36 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Thursday, March 2nd were given a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 3.36%. The ex-dividend date was Wednesday, March 1st. This is an increase from Eversource Energy’s previous quarterly dividend of $0.64. Eversource Energy’s dividend payout ratio (DPR) is 66.83%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ES shares. Wolfe Research lowered Eversource Energy from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 21st. Morgan Stanley reduced their price target on shares of Eversource Energy from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 21st. Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating on the stock in a report on Wednesday, February 15th. StockNews.com started coverage on shares of Eversource Energy in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Evercore ISI raised shares of Eversource Energy from an “in-line” rating to an “outperform” rating and upped their price target for the company from $86.00 to $92.00 in a report on Tuesday, January 24th. Nine analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.00.

About Eversource Energy

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.