Berkshire Bank Has $230,000 Position in Eversource Energy (NYSE:ES)

Berkshire Bank cut its position in Eversource Energy (NYSE:ES) by 42.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,000 shares of the utilities provider’s stock after selling 3,008 shares during the period. Berkshire Bank’s holdings in Eversource Energy were worth $230,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ES. State Street Corp raised its stake in Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the period. Wellington Management Group LLP bought a new stake in shares of Eversource Energy in the third quarter worth about $808,783,000. Geode Capital Management LLC raised its position in shares of Eversource Energy by 3.1% during the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after purchasing an additional 268,588 shares during the period. FMR LLC lifted its holdings in shares of Eversource Energy by 2.7% during the 3rd quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after purchasing an additional 185,381 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eversource Energy by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after purchasing an additional 216,630 shares during the period. 79.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ES shares. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Barclays lowered their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. BMO Capital Markets cut their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Finally, Jefferies Financial Group started coverage on Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $67.83.

Eversource Energy Price Performance

Shares of ES opened at $58.21 on Tuesday. 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 company’s fifty day simple moving average is $59.01 and its 200 day simple moving average is $62.93. Eversource Energy has a 1-year low of $52.71 and a 1-year high of $69.01.

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

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s payout ratio is presently -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.