abrdn plc Sells 34,752 Shares of Eversource Energy (NYSE:ES)

abrdn plc lessened its position in shares of Eversource Energy (NYSE:ES) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 663,880 shares of the utilities provider’s stock after selling 34,752 shares during the period. abrdn plc owned approximately 0.18% of Eversource Energy worth $37,841,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ES. State Street Corp boosted its stake in shares of Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after buying an additional 430,587 shares during the period. Wellington Management Group LLP bought a new stake in shares of Eversource Energy in the third quarter valued at approximately $808,783,000. Geode Capital Management LLC boosted its stake in shares of 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 valued at $613,233,000 after buying an additional 268,588 shares during the period. FMR LLC boosted its stake in shares of Eversource Energy by 2.7% in the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after buying an additional 185,381 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Eversource Energy by 4.6% in 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 buying an additional 216,630 shares during the period. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ES shares. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Scotiabank cut Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their target price for the stock from $66.00 to $56.00 in a research note on Thursday, December 12th. Jefferies Financial Group cut their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. BMO Capital Markets cut their target price on 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. Finally, Barclays cut their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average target price of $67.42.

Eversource Energy Stock Up 0.9 %

Shares of ES opened at $58.56 on Thursday. Eversource Energy has a 52 week low of $52.71 and a 52 week high of $69.01. The stock has a market capitalization of $21.46 billion, a price-to-earnings ratio of -37.30, a PEG ratio of 2.20 and a beta of 0.62. 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 stock has a fifty day moving average of $58.33 and a 200-day moving average of $62.81.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 positive return on equity of 10.90% and a negative net margin of 4.73%. Eversource Energy’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the company earned $0.97 EPS. As a group, sell-side analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

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.