Caprock Group LLC Raises Position in Eversource Energy (NYSE:ES)

Caprock Group LLC raised its holdings in shares of Eversource Energy (NYSE:ES) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,790 shares of the utilities provider’s stock after acquiring an additional 1,519 shares during the quarter. Caprock Group LLC’s holdings in Eversource Energy were worth $1,279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of ES. Public Sector Pension Investment Board lifted its stake in shares of Eversource Energy by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after buying an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Eversource Energy by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after buying an additional 354,429 shares in the last quarter. Zimmer Partners LP lifted its stake in shares of Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after buying an additional 2,231,585 shares in the last quarter. Hsbc Holdings PLC lifted its stake in shares of Eversource Energy by 26.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after buying an additional 374,458 shares in the last quarter. Finally, M&G Plc lifted its stake in shares of Eversource Energy by 16.8% during the 2nd quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after buying an additional 234,361 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $61.61 on Thursday. The company has a market capitalization of $22.57 billion, a price-to-earnings ratio of -39.24, a PEG ratio of 2.47 and a beta of 0.61. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The firm’s 50-day moving average is $64.87 and its 200 day moving average is $62.88. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last released its quarterly earnings data 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. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. Research analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.64%. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Analyst Ratings Changes

ES has been the topic of a number of analyst reports. Morgan Stanley lifted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company 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 research note on Tuesday, November 12th. Scotiabank lifted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Mizuho lifted their price target 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 lifted their price target 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. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $70.46.

Eversource Energy 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.