Burney Co. Increases Stock Position in Eversource Energy (NYSE:ES)

Burney Co. increased its stake in shares of Eversource Energy (NYSE:ES) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 43,495 shares of the utilities provider’s stock after purchasing an additional 967 shares during the period. Burney Co.’s holdings in Eversource Energy were worth $2,498,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Nordea Investment Management AB grew its position in Eversource Energy by 41.7% in the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares during the period. Landscape Capital Management L.L.C. boosted its stake in shares of Eversource Energy by 46.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after buying an additional 10,093 shares during the last quarter. Soltis Investment Advisors LLC bought a new stake in shares of Eversource Energy in the third quarter worth $3,616,000. Toronto Dominion Bank increased its position in Eversource Energy by 23.2% during the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock valued at $7,636,000 after acquiring an additional 25,377 shares during the last quarter. Finally, Banque Cantonale Vaudoise lifted its holdings in Eversource Energy by 94.0% in the third quarter. Banque Cantonale Vaudoise now owns 57,425 shares of the utilities provider’s stock valued at $3,908,000 after acquiring an additional 27,817 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ES. Barclays upped 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 report on Tuesday, October 15th. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. BMO Capital Markets cut their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Finally, Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.38.

Eversource Energy Stock Performance

NYSE ES opened at $56.63 on Thursday. 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 has a twelve month low of $52.09 and a twelve month high of $69.01. The business has a 50-day moving average price of $59.64 and a 200-day moving average price of $62.94. The firm has a market cap of $20.75 billion, a price-to-earnings ratio of -36.07, a price-to-earnings-growth ratio of 2.38 and a beta of 0.62.

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

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.05%. Eversource Energy’s payout ratio is -182.17%.

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.