Alliancebernstein L.P. trimmed its holdings in Eversource Energy (NYSE:ES) by 2.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 523,650 shares of the utilities provider’s stock after selling 10,804 shares during the period. Alliancebernstein L.P. owned 0.17% of Eversource Energy worth $33,084,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Eversource Energy by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,755 shares of the utilities provider’s stock worth $55,106,000 after buying an additional 10,934 shares during the last quarter. FDO Partners LLC acquired a new stake in Eversource Energy in the 3rd quarter worth about $3,767,000. Caisse DE Depot ET Placement DU Quebec boosted its stake in Eversource Energy by 16.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 158,260 shares of the utilities provider’s stock worth $9,605,000 after buying an additional 22,500 shares during the last quarter. Roosevelt Investment Group Inc. boosted its stake in Eversource Energy by 22.6% in the 4th quarter. Roosevelt Investment Group Inc. now owns 6,164 shares of the utilities provider’s stock worth $389,000 after buying an additional 1,136 shares during the last quarter. Finally, Shell Asset Management Co. acquired a new stake in Eversource Energy in the 4th quarter worth about $6,808,000. 73.85% of the stock is currently owned by hedge funds and other institutional investors.
ES has been the topic of several research analyst reports. Morgan Stanley raised Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 price objective on the stock in a research note on Wednesday, December 13th. Zacks Investment Research lowered Eversource Energy from a “buy” rating to a “hold” rating in a research note on Thursday, January 18th. Credit Suisse Group lowered Eversource Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $63.00 to $59.00 in a research note on Tuesday, January 23rd. They noted that the move was a valuation call. Citigroup lowered Eversource Energy from a “neutral” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Guggenheim reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Eversource Energy in a research note on Friday, February 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $62.82.
Eversource Energy (NYSE:ES) opened at $58.26 on Friday. The company has a market capitalization of $18,122.70, a P/E ratio of 18.73, a P/E/G ratio of 3.05 and a beta of 0.37. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. Eversource Energy has a 52-week low of $55.93 and a 52-week high of $66.15.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.74%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $0.72 earnings per share. analysts predict that Eversource Energy will post 3.26 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 6th will be given a dividend of $0.505 per share. The ex-dividend date is Monday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. This represents a $2.02 annualized dividend and a yield of 3.47%. Eversource Energy’s payout ratio is 64.95%.
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About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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