Prudential Financial Inc. Has $13.68 Million Stock Holdings in Eversource Energy $ES

Prudential Financial Inc. increased its position in shares of Eversource Energy (NYSE:ES) by 7.5% in the second quarter, HoldingsChannel reports. The firm owned 214,961 shares of the utilities provider’s stock after purchasing an additional 14,921 shares during the period. Prudential Financial Inc.’s holdings in Eversource Energy were worth $13,676,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers increased its holdings in shares of Eversource Energy by 16.4% during the first quarter. Cetera Investment Advisers now owns 113,127 shares of the utilities provider’s stock worth $7,026,000 after buying an additional 15,939 shares in the last quarter. HB Wealth Management LLC grew its position in Eversource Energy by 9.5% during the 1st quarter. HB Wealth Management LLC now owns 12,416 shares of the utilities provider’s stock worth $771,000 after acquiring an additional 1,079 shares during the last quarter. LPL Financial LLC increased its holdings in Eversource Energy by 42.9% during the 1st quarter. LPL Financial LLC now owns 367,079 shares of the utilities provider’s stock valued at $22,799,000 after purchasing an additional 110,185 shares in the last quarter. Meeder Advisory Services Inc. raised its position in Eversource Energy by 11.3% in the 1st quarter. Meeder Advisory Services Inc. now owns 8,101 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 824 shares during the last quarter. Finally, Vestcor Inc boosted its stake in Eversource Energy by 18.7% in the first quarter. Vestcor Inc now owns 13,901 shares of the utilities provider’s stock worth $863,000 after purchasing an additional 2,187 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ES has been the subject of a number of research reports. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a research note on Monday. Mizuho restated a “neutral” rating and issued a $68.00 price objective (down previously from $81.00) on shares of Eversource Energy in a research report on Thursday, November 20th. BMO Capital Markets reduced their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Janney Montgomery Scott raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research note on Monday. Finally, UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.55.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Stock Up 1.2%

Shares of NYSE:ES opened at $66.72 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The stock has a market cap of $25.03 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.92 and a beta of 0.69. The company has a 50 day moving average of $71.36 and a 200-day moving average of $66.95. Eversource Energy has a one year low of $52.28 and a one year high of $75.25.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Eversource Energy’s revenue was up 5.2% compared to the same quarter last year. On average, sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

About Eversource Energy

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.