Apollon Wealth Management LLC Cuts Holdings in Eversource Energy (NYSE:ES)

Apollon Wealth Management LLC lessened its position in shares of Eversource Energy (NYSE:ES) by 4.5% in the third quarter, Holdings Channel.com reports. The fund owned 7,799 shares of the utilities provider’s stock after selling 368 shares during the quarter. Apollon Wealth Management LLC’s holdings in Eversource Energy were worth $531,000 at the end of the most recent quarter.

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

Eversource Energy Trading Up 0.6 %

NYSE:ES opened at $61.85 on Friday. The company has a market cap of $22.66 billion, a PE ratio of -39.39, a P/E/G ratio of 2.43 and a beta of 0.61. The business’s 50 day moving average is $65.24 and its two-hundred day moving average is $62.84. 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 has a 52 week low of $52.09 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (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 firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.62%. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ES shares. BMO Capital Markets decreased their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Bank of America raised their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Scotiabank raised their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Mizuho lifted their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.46.

Eversource Energy 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.