Resources Management Corp CT ADV Acquires 686 Shares of Eversource Energy (NYSE:ES)

Resources Management Corp CT ADV increased its holdings in Eversource Energy (NYSE:ES) by 1.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 38,920 shares of the utilities provider’s stock after buying an additional 686 shares during the period. Resources Management Corp CT ADV’s holdings in Eversource Energy were worth $2,649,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Brown Brothers Harriman & Co. grew its holdings in Eversource Energy by 2.8% during the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 166 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in Eversource Energy by 14.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after purchasing an additional 169 shares during the period. Addison Advisors LLC grew its holdings in Eversource Energy by 27.4% during the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 185 shares during the period. Bar Harbor Wealth Management grew its holdings in Eversource Energy by 4.1% during the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 190 shares during the period. Finally, UMB Bank n.a. grew its holdings in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the period. 79.99% of the stock is owned by institutional investors.

Eversource Energy Trading Up 0.8 %

Shares of ES stock opened at $60.25 on Tuesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The company has a market capitalization of $22.08 billion, a PE ratio of -38.38, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. The business’s fifty day moving average is $63.69 and its 200 day moving average is $63.08.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.715 per share. The ex-dividend date is Wednesday, December 18th. This represents a $2.86 dividend on an annualized basis and a yield of 4.75%. Eversource Energy’s payout ratio is -182.17%.

Analyst Ratings Changes

ES has been the subject of several research reports. Mizuho increased their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays increased their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Morgan Stanley increased their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $69.15.

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.