California State Teachers Retirement System Has $48.67 Million Holdings in Eversource Energy (NYSE:ES)

California State Teachers Retirement System cut its stake in shares of Eversource Energy (NYSE:ES – Get Rating) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 624,274 shares of the utilities provider’s stock after selling 2,429 shares during the period. California State Teachers Retirement System’s holdings in Eversource Energy were worth $48,668,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ES. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Eversource Energy during the first quarter worth $1,257,000. Dimensional Fund Advisors LP grew its stake in shares of Eversource Energy by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock worth $99,716,000 after purchasing an additional 158,844 shares during the last quarter. Vontobel Holding Ltd. grew its stake in shares of Eversource Energy by 8.5% in the first quarter. Vontobel Holding Ltd. now owns 7,816 shares of the utilities provider’s stock worth $693,000 after purchasing an additional 613 shares during the last quarter. Sei Investments Co. grew its stake in shares of Eversource Energy by 1.5% in the first 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 grew its stake 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 purchasing an additional 57,995 shares during the last quarter. 77.37% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Down 0.0 %

Eversource Energy stock opened at $76.80 on Friday. The firm has a 50 day moving average price of $79.46 and a 200-day moving average price of $81.10. The company has a market capitalization of $26.76 billion, a P/E ratio of 19.01, a P/E/G ratio of 2.63 and a beta of 0.45. Eversource Energy has a twelve month low of $70.54 and a twelve month high of $94.63. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 1.27.

Eversource Energy (NYSE:ES – Get Rating) last announced its quarterly earnings results on Monday, February 13th. The utilities provider reported $0.92 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 firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the previous year, the business earned $0.91 earnings per share. The firm’s revenue for the quarter was up 22.1% on a year-over-year basis. As a group, equities analysts predict that Eversource Energy will post 4.37 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 2nd will be paid a dividend of $0.675 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.52%. Eversource Energy’s payout ratio is presently 66.83%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ES. UBS Group boosted their price objective on shares of Eversource Energy from $77.00 to $83.00 and gave the stock a “neutral” rating in a research note on Thursday, December 1st. Wells Fargo & Company reduced their price objective on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 15th. Citigroup reduced their price objective on shares of Eversource Energy from $91.00 to $86.00 and set a “neutral” rating on the stock in a research note on Thursday, February 16th. Morgan Stanley reduced their price objective on shares of Eversource Energy from $90.00 to $87.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. 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 research report on Tuesday, January 24th. Nine investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $89.00.

Insider Activity

In related news, insider Faasen William C. Van sold 1,943 shares of the business’s stock in a transaction dated Thursday, January 19th. The shares were sold at an average price of $81.08, for a total transaction of $157,538.44. Following the sale, the insider now owns 18,841 shares of the company’s stock, valued at $1,527,628.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.38% of the company’s stock.

Eversource Energy Profile

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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.