Oak Thistle LLC Takes $395,000 Position in Eversource Energy (NYSE:ES)

Oak Thistle LLC bought a new position in Eversource Energy (NYSE:ES) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 6,871 shares of the utilities provider’s stock, valued at approximately $395,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Street Corp increased its stake in Eversource Energy by 1.7% in the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after acquiring an additional 430,587 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Eversource Energy in the third quarter valued at $808,783,000. Geode Capital Management LLC increased its position in Eversource Energy by 3.1% in the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after purchasing an additional 268,588 shares during the last quarter. FMR LLC raised its stake in Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after purchasing an additional 185,381 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eversource Energy by 4.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after purchasing an additional 216,630 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Price Performance

Shares of ES stock opened at $58.15 on Friday. The company’s 50-day simple moving average is $59.56 and its two-hundred day simple moving average is $62.89. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a one year low of $52.09 and a one year high of $69.01. The company has a market capitalization of $21.30 billion, a P/E ratio of -37.04, a P/E/G ratio of 2.13 and a beta of 0.62.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate 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 company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the business posted $0.97 EPS. Eversource Energy’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 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date was Wednesday, December 18th. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ES shares. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Jefferies Financial Group began coverage on Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective on the stock. Mizuho raised their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Barclays boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lowered their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Eversource Energy 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.