PNC Financial Services Group Inc. Acquires 5,065 Shares of Eversource Energy (NYSE:ES)

PNC Financial Services Group Inc. raised its holdings in shares of Eversource Energy (NYSE:ES) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 442,822 shares of the utilities provider’s stock after acquiring an additional 5,065 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of Eversource Energy worth $30,134,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ES. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Eversource Energy during the 3rd quarter worth about $3,107,000. Banque Cantonale Vaudoise boosted its stake in Eversource Energy by 94.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 57,425 shares of the utilities provider’s stock worth $3,908,000 after acquiring an additional 27,817 shares during the last quarter. Caprock Group LLC grew its holdings in Eversource Energy by 8.8% during the third quarter. Caprock Group LLC now owns 18,790 shares of the utilities provider’s stock valued at $1,279,000 after purchasing an additional 1,519 shares during the period. Pathstone Holdings LLC increased its stake in Eversource Energy by 0.7% in the third quarter. Pathstone Holdings LLC now owns 45,798 shares of the utilities provider’s stock valued at $3,117,000 after purchasing an additional 331 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in Eversource Energy by 483.5% in the third quarter. Quest Partners LLC now owns 54,308 shares of the utilities provider’s stock worth $3,696,000 after purchasing an additional 45,000 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

NYSE:ES opened at $61.61 on Thursday. The stock’s 50-day simple moving average is $64.87 and its 200 day simple moving average is $62.88. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. 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 has a market cap of $22.57 billion, a P/E ratio of -39.24, a P/E/G ratio of 2.47 and a beta of 0.61.

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

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.64%. Eversource Energy’s dividend payout ratio is presently -182.17%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ES shares. Mizuho boosted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Morgan Stanley increased their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America increased their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Barclays raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $70.46.

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.