MML Investors Services LLC Raises Position in Eversource Energy (NYSE:ES)

MML Investors Services LLC raised its stake in shares of Eversource Energy (NYSE:ES) by 39.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,435 shares of the utilities provider’s stock after purchasing an additional 6,069 shares during the period. MML Investors Services LLC’s holdings in Eversource Energy were worth $1,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the third quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy in the third quarter worth approximately $32,000. UMB Bank n.a. raised its holdings in shares of Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares during the period. Larson Financial Group LLC raised its holdings in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Eversource Energy in the third quarter worth approximately $48,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Down 4.0 %

Shares of NYSE ES opened at $56.16 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $20.58 billion, a PE ratio of -35.77, a price-to-earnings-growth ratio of 2.38 and a beta of 0.60. The stock’s fifty day simple moving average is $62.80 and its two-hundred day simple moving average is $63.11. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share 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 firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the business earned $0.97 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.09%. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ES. Jefferies Financial Group began coverage on Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. Barclays raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Finally, StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average 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.