Avanza Fonder AB Invests $2.17 Million in Eversource Energy (NYSE:ES)

Avanza Fonder AB bought a new stake in shares of Eversource Energy (NYSE:ES) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 37,742 shares of the utilities provider’s stock, valued at approximately $2,168,000.

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Jefferies Financial Group assumed coverage on Eversource Energy in a research note on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. Barclays upped their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. BMO Capital Markets decreased their price target 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. Mizuho upped their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Two equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $68.38.

Eversource Energy Price Performance

ES opened at $57.91 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company’s 50-day moving average price is $59.43 and its 200 day moving average price is $62.87. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The firm has a market cap of $21.22 billion, a price-to-earnings ratio of -36.88, a price-to-earnings-growth ratio of 2.13 and a beta of 0.62.

Eversource Energy (NYSE:ES) last announced its quarterly 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 business had revenue of $3.06 billion for 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 business’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. As a group, sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th were given a dividend of $0.715 per share. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a dividend yield of 4.94%. Eversource Energy’s dividend payout ratio is currently -182.17%.

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.