Wilmington Savings Fund Society FSB Takes Position in Eversource Energy (NYSE:ES)

Wilmington Savings Fund Society FSB acquired a new stake in shares of Eversource Energy (NYSE:ES) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,964 shares of the utilities provider’s stock, valued at approximately $270,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bensler LLC bought a new position in Eversource Energy during the second quarter worth about $316,000. Landscape Capital Management L.L.C. lifted its stake in Eversource Energy by 46.9% during the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after purchasing an additional 10,093 shares during the period. Soltis Investment Advisors LLC bought a new position in Eversource Energy during the third quarter worth about $3,616,000. Toronto Dominion Bank lifted its stake in Eversource Energy by 23.2% during the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock worth $7,636,000 after purchasing an additional 25,377 shares during the period. Finally, State Street Corp lifted its stake in Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $58.53 on Wednesday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The firm has a market cap of $21.45 billion, a P/E ratio of -37.28, a P/E/G ratio of 2.38 and a beta of 0.60. The firm has a 50 day simple moving average of $62.95 and a 200 day simple moving average of $63.16. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last issued 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. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. Eversource Energy’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.97 earnings per share. Sell-side analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is presently -182.17%.

Analyst Upgrades and Downgrades

ES has been the subject of a number of analyst reports. BMO Capital Markets cut their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley raised their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Mizuho raised their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.38.

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.