Eversource Energy (NYSE:ES) Stock Holdings Cut by NFJ Investment Group LLC

NFJ Investment Group LLC reduced its stake in Eversource Energy (NYSE:ES) by 11.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,142,384 shares of the utilities provider’s stock after selling 140,765 shares during the period. Eversource Energy makes up approximately 2.3% of NFJ Investment Group LLC’s portfolio, making the stock its 5th biggest position. NFJ Investment Group LLC’s holdings in Eversource Energy were worth $77,739,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ES. Los Angeles Capital Management LLC increased its stake in Eversource Energy by 201.4% during the second quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock worth $55,273,000 after purchasing an additional 651,263 shares during the period. Millennium Management LLC increased its stake in shares of Eversource Energy by 75.8% during the second quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock worth $74,142,000 after buying an additional 563,756 shares during the period. Hsbc Holdings PLC increased its stake in shares of Eversource Energy by 26.9% during the second quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock worth $100,110,000 after buying an additional 374,458 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after buying an additional 354,429 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in shares of Eversource Energy during the third quarter worth approximately $176,214,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ES. Morgan Stanley upped their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Jefferies Financial Group began coverage on shares of Eversource Energy in a report on Tuesday. They issued an “underperform” rating and a $52.00 target price for the company. Mizuho upped their target price 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. Finally, Barclays upped their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $69.15.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded down $1.62 on Tuesday, hitting $62.05. The company’s stock had a trading volume of 543,280 shares, compared to its average volume of 2,367,645. 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 fifty day moving average price of $64.33 and a 200-day moving average price of $63.03. 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 $22.74 billion, a P/E ratio of -40.55, a price-to-earnings-growth ratio of 2.58 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is -182.17%.

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.