10,700 Shares of Eversource Energy $ES Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Eversource Energy (NYSE:ES) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,700 shares of the utilities provider’s stock, valued at approximately $687,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ES. Soltis Investment Advisors LLC increased its position in shares of Eversource Energy by 9.8% during the third quarter. Soltis Investment Advisors LLC now owns 129,640 shares of the utilities provider’s stock valued at $8,318,000 after acquiring an additional 11,575 shares during the last quarter. United Asset Strategies Inc. boosted its position in Eversource Energy by 2.8% in the third quarter. United Asset Strategies Inc. now owns 13,991 shares of the utilities provider’s stock worth $898,000 after purchasing an additional 385 shares during the last quarter. Choreo LLC boosted its position in Eversource Energy by 9.0% in the third quarter. Choreo LLC now owns 8,876 shares of the utilities provider’s stock worth $570,000 after purchasing an additional 732 shares during the last quarter. Interchange Capital Partners LLC boosted its position in Eversource Energy by 27.4% in the third quarter. Interchange Capital Partners LLC now owns 3,762 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 808 shares during the last quarter. Finally, Childress Capital Advisors LLC bought a new position in Eversource Energy in the 3rd quarter valued at $209,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

ES traded down $2.06 on Friday, hitting $69.86. The company’s stock had a trading volume of 3,424,384 shares, compared to its average volume of 2,920,706. Eversource Energy has a 12 month low of $62.72 and a 12 month high of $76.57. The firm has a market cap of $26.31 billion, a P/E ratio of 18.43, a price-to-earnings-growth ratio of 3.03 and a beta of 0.66. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The company’s 50 day simple moving average is $67.35 and its 200-day simple moving average is $70.03.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The business’s revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. Analysts forecast that Eversource Energy will post 4.63 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were issued a dividend of $0.7875 per share. The ex-dividend date of this dividend was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. Eversource Energy’s dividend payout ratio is 81.61%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ES. Barclays started coverage on Eversource Energy in a research note on Friday. They set an “equal weight” rating and a $76.00 target price on the stock. BMO Capital Markets cut their price target on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Weiss Ratings upgraded shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. JPMorgan Chase & Co. decreased their price objective on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a report on Monday, October 19th. Finally, HSBC assumed coverage on shares of Eversource Energy in a report on Thursday, October 22nd. They set a “hold” rating and a $70.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.17.

Eversource Energy Company Profile

Eversource Energy is a public utility holding company that delivers electricity and natural gas to customers in New England. Its businesses include electric transmission and distribution, natural gas distribution, and related energy services.

The company serves customers in Connecticut, Massachusetts, and New Hampshire through local utility subsidiaries. Its operations include maintaining and upgrading the networks used to deliver energy to homes and businesses.

Eversource traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015 after combining with NSTAR.