Eversource Energy (NYSE:ES) Stock Holdings Cut by NFJ Investment Group LLC

NFJ Investment Group LLC decreased its holdings in shares of Eversource Energy (NYSE:ES) by 11.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,142,384 shares of the utilities provider’s stock after selling 140,765 shares during the quarter. Eversource Energy comprises about 2.3% of NFJ Investment Group LLC’s investment portfolio, making the stock its 5th largest position. NFJ Investment Group LLC owned about 0.31% of Eversource Energy worth $77,739,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ES. Brown Brothers Harriman & Co. raised its stake in shares of Eversource Energy by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 166 shares during the period. Massmutual Trust Co. FSB ADV raised its stake in shares of Eversource Energy by 14.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 169 shares during the period. Addison Advisors LLC increased its stake in Eversource Energy by 27.4% in the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after buying an additional 185 shares during the period. Bar Harbor Wealth Management grew its holdings in Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 190 shares in the last quarter. Finally, UMB Bank n.a. grew its holdings in Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES traded down $1.62 on Tuesday, hitting $62.05. 543,280 shares of the company’s stock were exchanged, compared to its average volume of 2,367,645. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The firm has a 50-day moving average price of $64.33 and a 200-day moving average price of $63.03. The stock has a market cap of $22.74 billion, a price-to-earnings ratio of -40.55, a P/E/G ratio of 2.58 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its 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. 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 quarter in the previous year, the company posted $0.97 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.61%. Eversource Energy’s payout ratio is -182.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ES shares. Bank of America raised their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group initiated coverage on shares of Eversource Energy in a research note on Tuesday. They issued an “underperform” rating and a $52.00 target price for the company. Morgan Stanley lifted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Mizuho raised their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $69.15.

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.