Moors & Cabot Inc. Sells 837 Shares of Eversource Energy (NYSE:ES)

Moors & Cabot Inc. lessened its stake in shares of Eversource Energy (NYSE:ES) by 2.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 35,799 shares of the utilities provider’s stock after selling 837 shares during the period. Moors & Cabot Inc.’s holdings in Eversource Energy were worth $2,436,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Canada Pension Plan Investment Board grew its holdings in Eversource Energy by 6.1% during the first quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock valued at $38,631,000 after purchasing an additional 37,219 shares during the period. Bensler LLC bought a new stake in Eversource Energy during the second quarter valued at about $316,000. M&G Plc grew its holdings in Eversource Energy by 16.8% during the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after purchasing an additional 234,361 shares during the period. Virtu Financial LLC bought a new position in shares of Eversource Energy in the first quarter worth about $1,280,000. Finally, California State Teachers Retirement System grew its position in shares of Eversource Energy by 10.0% during the first quarter. California State Teachers Retirement System now owns 847,789 shares of the utilities provider’s stock worth $50,672,000 after purchasing an additional 77,184 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Down 0.1 %

NYSE:ES opened at $61.61 on Thursday. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The business has a 50 day simple moving average of $64.87 and a 200-day simple moving average of $62.88. The company has a quick ratio of 0.76, a current ratio of 0.86 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the company earned $0.97 EPS. As a group, research analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared 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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -182.17%.

Wall Street Analyst Weigh In

ES has been the subject of several research analyst reports. Morgan Stanley increased their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Bank of America increased their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Barclays increased their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets dropped their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.