Eversource Energy (NYSE:ES) Stock Position Lowered by KBC Group NV

KBC Group NV trimmed its position in shares of Eversource Energy (NYSE:ES) by 7.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 316,029 shares of the utilities provider’s stock after selling 26,627 shares during the quarter. KBC Group NV’s holdings in Eversource Energy were worth $21,505,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ES. Public Sector Pension Investment Board lifted its position in Eversource Energy by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after buying an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after acquiring an additional 354,429 shares in the last quarter. ClearBridge Investments Ltd acquired a new stake in Eversource Energy during the first quarter valued at $156,093,000. Zimmer Partners LP grew its stake in Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after purchasing an additional 2,231,585 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in Eversource Energy by 26.9% in the 2nd quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock worth $100,110,000 after purchasing an additional 374,458 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ES has been the subject of several research reports. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Bank of America lifted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Barclays lifted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, BMO Capital Markets lowered their target price on shares of 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. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.46.

Eversource Energy Trading Up 0.6 %

Eversource Energy stock opened at $61.85 on Friday. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. 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 firm has a market capitalization of $22.66 billion, a PE ratio of -39.39, a PEG ratio of 2.43 and a beta of 0.61. The business’s 50-day simple moving average is $65.35 and its 200-day simple moving average is $62.83.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS 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 company 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 posted $0.97 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

About Eversource Energy

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.