Alliancebernstein L.P. Trims Holdings in Eversource Energy (NYSE:ES)

Alliancebernstein L.P. trimmed its holdings in Eversource Energy (NYSE:ES) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 523,650 shares of the utilities provider’s stock after selling 10,804 shares during the quarter. Alliancebernstein L.P. owned about 0.17% of Eversource Energy worth $33,084,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ES. BlackRock Inc. boosted its position in Eversource Energy by 2.4% in the fourth quarter. BlackRock Inc. now owns 25,200,721 shares of the utilities provider’s stock worth $1,592,179,000 after purchasing an additional 589,876 shares during the last quarter. Wells Fargo & Company MN boosted its position in Eversource Energy by 4.3% in the fourth quarter. Wells Fargo & Company MN now owns 6,823,570 shares of the utilities provider’s stock worth $431,113,000 after purchasing an additional 283,943 shares during the last quarter. Geode Capital Management LLC boosted its position in Eversource Energy by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 3,625,817 shares of the utilities provider’s stock worth $228,627,000 after purchasing an additional 118,626 shares during the last quarter. Legal & General Group Plc boosted its position in Eversource Energy by 5.4% in the third quarter. Legal & General Group Plc now owns 2,801,473 shares of the utilities provider’s stock worth $169,322,000 after purchasing an additional 144,185 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Eversource Energy by 0.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,991,027 shares of the utilities provider’s stock valued at $120,595,000 after buying an additional 13,402 shares in the last quarter. Institutional investors own 73.81% of the company’s stock.

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NYSE ES traded down $0.36 during trading hours on Friday, reaching $59.65. The company’s stock had a trading volume of 1,769,333 shares, compared to its average volume of 2,083,149. 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 1 year low of $55.93 and a 1 year high of $66.15. The stock has a market cap of $18,902.25, a PE ratio of 19.18, a P/E/G ratio of 3.18 and a beta of 0.32.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). Eversource Energy had a return on equity of 9.03% and a net margin of 12.74%. The business had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. analysts forecast that Eversource Energy will post 3.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Shareholders of record on Tuesday, March 6th were paid a $0.505 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Monday, March 5th. This represents a $2.02 dividend on an annualized basis and a yield of 3.39%. Eversource Energy’s payout ratio is presently 64.95%.

A number of research analysts have recently weighed in on ES shares. 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 report on Wednesday, December 13th. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, January 2nd. Credit Suisse Group cut Eversource Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $63.00 to $59.00 in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Guggenheim reaffirmed a “buy” rating and set a $64.00 price objective on shares of Eversource Energy in a research report on Friday, February 2nd. Finally, UBS started coverage on Eversource Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $66.00 price objective on the stock. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $62.75.

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Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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