Eversource Energy (NYSE:ES) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. decreased its stake in Eversource Energy (NYSE:ES) by 53.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,530 shares of the utilities provider’s stock after selling 7,500 shares during the quarter. Everence Capital Management Inc.’s holdings in Eversource Energy were worth $375,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in shares of Eversource Energy by 1.0% during the third quarter. JPMorgan Chase & Co. now owns 1,418,109 shares of the utilities provider’s stock valued at $96,502,000 after acquiring an additional 13,908 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Eversource Energy by 4.5% during the third quarter. Principal Financial Group Inc. now owns 413,874 shares of the utilities provider’s stock worth $28,164,000 after purchasing an additional 17,654 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in Eversource Energy by 8.3% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 5,954 shares of the utilities provider’s stock valued at $404,000 after purchasing an additional 458 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Eversource Energy by 518.1% during the 3rd quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock worth $32,683,000 after purchasing an additional 402,574 shares during the last quarter. Finally, Tidal Investments LLC grew its holdings in shares of Eversource Energy by 5.2% during the third quarter. Tidal Investments LLC now owns 13,849 shares of the utilities provider’s stock worth $942,000 after buying an additional 689 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ES shares. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. BMO Capital Markets reduced their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price objective for the company. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the stock from $66.00 to $56.00 in a research note on Thursday, December 12th. Finally, Mizuho increased their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Price Performance

ES opened at $56.18 on Tuesday. The stock’s 50-day moving average price is $60.59 and its 200 day moving average price is $62.98. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01. The firm has a market cap of $20.58 billion, a price-to-earnings ratio of -35.78, a PEG ratio of 2.38 and a beta of 0.62. 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 posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 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 business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the firm posted $0.97 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 5.09%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s payout ratio 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.