Ascent Group LLC Sells 438 Shares of Eversource Energy (NYSE:ES)

Ascent Group LLC cut its stake in shares of Eversource Energy (NYSE:ES) by 2.2% in the third quarter, Holdings Channel reports. The fund owned 19,433 shares of the utilities provider’s stock after selling 438 shares during the period. Ascent Group LLC’s holdings in Eversource Energy were worth $1,322,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Los Angeles Capital Management LLC boosted its position in Eversource Energy by 201.4% in the second quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock valued at $55,273,000 after buying an additional 651,263 shares in the last quarter. Millennium Management LLC boosted its holdings in shares of Eversource Energy by 75.8% in the 2nd quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock worth $74,142,000 after acquiring an additional 563,756 shares in the last quarter. Hsbc Holdings PLC grew its position in Eversource Energy by 26.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock worth $100,110,000 after acquiring an additional 374,458 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Eversource Energy by 12.7% during the 2nd 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 purchasing an additional 354,429 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in Eversource Energy in the 3rd quarter valued at $176,214,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES stock opened at $61.29 on Wednesday. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The company’s fifty day simple moving average is $64.17 and its 200-day simple moving average is $63.05. The firm has a market cap of $22.46 billion, a PE ratio of -39.04, a P/E/G ratio of 2.55 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 EPS. Equities research analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ES shares. Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Bank of America raised their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Barclays increased their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Mizuho upped their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $69.15.

Eversource Energy Company 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.