Nomura Asset Management Co. Ltd. Cuts Stock Position in Eversource Energy (NYSE:ES)

Nomura Asset Management Co. Ltd. decreased its stake in shares of Eversource Energy (NYSE:ES) by 39.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 227,376 shares of the utilities provider’s stock after selling 150,487 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Eversource Energy were worth $15,473,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Eversource Energy in the 3rd quarter worth about $31,000. Ashton Thomas Securities LLC bought a new stake in Eversource Energy during the 3rd quarter valued at about $32,000. UMB Bank n.a. raised its holdings in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Eversource Energy during the third quarter valued at approximately $48,000. 79.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group started coverage on Eversource Energy in a research note on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target for the company. Barclays upped their target price 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. Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Scotiabank raised their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Finally, Mizuho boosted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $69.15.

Eversource Energy Stock Performance

NYSE:ES opened at $60.54 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The stock has a 50-day simple moving average of $63.69 and a two-hundred day simple moving average of $63.08. The firm has a market capitalization of $22.18 billion, a PE ratio of -38.56, a P/E/G ratio of 2.39 and a beta of 0.60. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. Analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.72%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is currently -182.17%.

About Eversource Energy

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.