AGF Management Ltd. Acquires 21,919 Shares of Eversource Energy (NYSE:ES)

AGF Management Ltd. boosted its stake in shares of Eversource Energy (NYSE:ES) by 67.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,330 shares of the utilities provider’s stock after buying an additional 21,919 shares during the period. AGF Management Ltd.’s holdings in Eversource Energy were worth $3,081,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Eversource Energy by 65.0% during the 1st 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. Bank of New York Mellon Corp lifted its position 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 valued at $177,823,000 after buying an additional 354,429 shares during the last quarter. Magellan Asset Management Ltd boosted its holdings in shares of Eversource Energy by 5.4% in the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock valued at $189,301,000 after buying an additional 156,534 shares in the last quarter. ClearBridge Investments Ltd purchased a new position in shares of Eversource Energy in the 1st quarter worth approximately $156,093,000. Finally, Zimmer Partners LP grew its position in shares of 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. Institutional investors own 79.99% of the company’s stock.

Insider Activity

In related news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Eversource Energy news, 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 value of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

ES has been the subject of several recent analyst reports. Morgan Stanley raised 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 note on Friday, August 23rd. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Barclays upped their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Scotiabank boosted their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company upped their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.93.

Eversource Energy Trading Down 0.4 %

Shares of Eversource Energy stock opened at $67.51 on Friday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The stock has a market cap of $23.78 billion, a PE ratio of -57.21, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61. The firm has a fifty day moving average price of $64.52 and a 200 day moving average price of $60.93.

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

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.24%. 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.