Empowered Funds LLC Boosts Holdings in Eversource Energy (NYSE:ES)

Empowered Funds LLC raised its stake in shares of Eversource Energy (NYSE:ES) by 76.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,389 shares of the utilities provider’s stock after buying an additional 4,065 shares during the quarter. Empowered Funds LLC’s holdings in Eversource Energy were worth $639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empirical Finance LLC grew its stake in shares of Eversource Energy by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 12,039 shares of the utilities provider’s stock worth $819,000 after buying an additional 267 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Eversource Energy by 9.4% in the 3rd quarter. CIBC Asset Management Inc now owns 52,054 shares of the utilities provider’s stock valued at $3,542,000 after acquiring an additional 4,490 shares during the last quarter. Cadence Wealth Management LLC purchased a new position in Eversource Energy in the third quarter worth about $240,000. ING Groep NV bought a new stake in Eversource Energy during the third quarter worth approximately $3,253,000. Finally, Cable Hill Partners LLC raised its position in Eversource Energy by 9.9% during the third quarter. Cable Hill Partners LLC now owns 4,219 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 380 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

NYSE:ES opened at $63.38 on Friday. The company has a 50 day moving average price of $64.68 and a 200-day moving average price of $62.92. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of -40.37, a price-to-earnings-growth ratio of 2.51 and a beta of 0.61. 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 (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the firm posted $0.97 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Equities research analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.51%. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Wall Street Analyst Weigh In

ES has been the topic of several analyst reports. Morgan Stanley boosted their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Mizuho boosted their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Barclays raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Scotiabank upped 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. Finally, Bank of America increased their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.46.

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.