Eversource Energy $ES Stock Sold by Brighton Jones LLC

Brighton Jones LLC decreased its holdings in Eversource Energy (NYSE:ES) by 29.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,551 shares of the utilities provider’s stock after selling 13,239 shares during the period. Brighton Jones LLC’s holdings in Eversource Energy were worth $2,024,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of Eversource Energy in the second quarter worth approximately $3,086,413,000. Legal & General Group Plc acquired a new stake in shares of Eversource Energy during the second quarter worth approximately $359,215,000. Deutsche Bank AG purchased a new position in Eversource Energy during the second quarter valued at approximately $311,548,000. Hsbc Holdings PLC purchased a new position in Eversource Energy during the second quarter valued at approximately $272,105,000. Finally, Magellan Asset Management Ltd purchased a new position in Eversource Energy during the second quarter valued at approximately $248,397,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ES shares. Citigroup started coverage on shares of Eversource Energy in a research note on Monday, July 27th. They issued a “hold” rating and a $81.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. Weiss Ratings upgraded shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. BMO Capital Markets dropped 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 research note on Wednesday, July 22nd. Finally, Barclays initiated coverage on shares of Eversource Energy in a research note on Friday. They issued an “equal weight” rating and a $76.00 price target on the stock. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $73.17.

Eversource Energy Stock Down 0.4%

Shares of Eversource Energy stock opened at $69.58 on Tuesday. The firm has a market cap of $26.21 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 3.07 and a beta of 0.66. The stock has a 50-day simple moving average of $67.33 and a 200-day simple moving average of $70.02. Eversource Energy has a 52-week low of $62.72 and a 52-week high of $76.57. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.20 billion. Eversource Energy had a return on equity of 10.68% and a net margin of 10.38%. The firm’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.19 earnings per share. On average, equities research analysts expect that Eversource Energy will post 4.63 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a dividend of $0.7875 per share. The ex-dividend date was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.5%. Eversource Energy’s dividend payout ratio (DPR) is currently 83.11%.

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.