Eversource Energy (NYSE:ES) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its holdings in shares of Eversource Energy (NYSE:ES) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,481 shares of the utilities provider’s stock after selling 449 shares during the period. Pitcairn Co.’s holdings in Eversource Energy were worth $237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Lynx Investment Advisory acquired a new position in shares of Eversource Energy during the 2nd quarter valued at about $25,000. Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $32,000. UMB Bank n.a. grew its stake in shares of Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares during the period. MFA Wealth Advisors LLC acquired a new stake in shares of Eversource Energy during the 3rd quarter worth approximately $48,000. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Eversource Energy during the 1st quarter valued at approximately $43,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ES has been the subject of several recent analyst reports. Bank of America raised their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley boosted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Barclays increased their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Wells Fargo & Company boosted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $70.46.

Eversource Energy Stock Up 1.6 %

ES stock opened at $64.59 on Thursday. The company’s 50 day moving average is $64.44 and its two-hundred day moving average is $62.97. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The stock has a market cap of $23.67 billion, a P/E ratio of -41.14, a PEG ratio of 2.56 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly 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. 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 the consensus estimate of $3.06 billion. During the same quarter last year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -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.