KBC Group NV Reduces Stock Holdings in Eversource Energy (NYSE:ES)

KBC Group NV lessened its stake in Eversource Energy (NYSE:ES) by 7.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 316,029 shares of the utilities provider’s stock after selling 26,627 shares during the quarter. KBC Group NV owned about 0.09% of Eversource Energy worth $21,505,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board lifted its stake in shares of Eversource Energy by 6.1% in the first quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock worth $38,631,000 after acquiring an additional 37,219 shares in the last quarter. Bensler LLC acquired a new position in shares of Eversource Energy in the 2nd quarter valued at approximately $316,000. M&G Plc raised its position in shares of Eversource Energy by 16.8% in the 2nd quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after purchasing an additional 234,361 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Eversource Energy during the 1st quarter valued at approximately $1,280,000. Finally, California State Teachers Retirement System grew its position in shares of Eversource Energy by 10.0% during the first quarter. California State Teachers Retirement System now owns 847,789 shares of the utilities provider’s stock worth $50,672,000 after buying an additional 77,184 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

NYSE:ES opened at $61.85 on Friday. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. 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 firm has a market cap of $22.66 billion, a P/E ratio of -39.39, a PEG ratio of 2.43 and a beta of 0.61. The business’s 50-day moving average price is $65.35 and its 200 day moving average price is $62.83.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping 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 business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed 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 was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.62%. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Analyst Upgrades and Downgrades

ES has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Barclays boosted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Scotiabank raised their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.46.

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.