Citigroup Inc. Reduces Holdings in Eversource Energy (NYSE:ES)

Citigroup Inc. lowered its position in Eversource Energy (NYSE:ES) by 18.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 275,718 shares of the utilities provider’s stock after selling 61,707 shares during the period. Citigroup Inc.’s holdings in Eversource Energy were worth $18,763,000 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. Los Angeles Capital Management LLC boosted its position in Eversource Energy by 201.4% during the second quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock worth $55,273,000 after acquiring an additional 651,263 shares during the last quarter. Millennium Management LLC lifted its stake in Eversource Energy by 75.8% in the 2nd quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock worth $74,142,000 after purchasing an additional 563,756 shares in the last quarter. Swedbank AB purchased a new stake in shares of Eversource Energy in the first quarter valued at approximately $31,928,000. Hsbc Holdings PLC increased its holdings in shares of Eversource Energy by 26.9% in the second quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after purchasing an additional 374,458 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in 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 buying an additional 354,429 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

ES has been the topic of several recent research reports. Mizuho boosted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Scotiabank increased their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Barclays upped their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley lifted their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $70.46.

Eversource Energy Stock Down 0.6 %

Shares of ES opened at $63.58 on Wednesday. The company’s 50-day simple moving average is $64.50 and its 200-day simple moving average is $62.96. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The stock has a market capitalization of $23.30 billion, a PE ratio of -40.50, a P/E/G ratio of 2.54 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Analysts forecast that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced 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 of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.50%. Eversource Energy’s payout ratio is -182.17%.

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.