Strs Ohio Cuts Stock Position in Eversource Energy $ES

Strs Ohio decreased its position in shares of Eversource Energy (NYSE:ES) by 75.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,785 shares of the utilities provider’s stock after selling 27,197 shares during the period. Strs Ohio’s holdings in Eversource Energy were worth $625,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ES. Neo Ivy Capital Management acquired a new stake in shares of Eversource Energy during the second quarter worth about $26,000. Root Financial Partners LLC acquired a new position in shares of Eversource Energy in the third quarter valued at approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Eversource Energy during the 3rd quarter worth approximately $27,000. Trust Co. of Toledo NA OH acquired a new stake in Eversource Energy during the 2nd quarter worth approximately $28,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Eversource Energy in the 2nd quarter valued at approximately $31,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Trading Down 1.5%

ES opened at $68.88 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The company has a market cap of $25.84 billion, a P/E ratio of 18.87, a PEG ratio of 2.37 and a beta of 0.76. The business’s 50-day simple moving average is $67.84 and its 200-day simple moving average is $68.18.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company posted $1.13 earnings per share. As a group, equities research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be paid a dividend of $0.7875 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.15 annualized dividend and a yield of 4.6%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. Eversource Energy’s dividend payout ratio (DPR) is 82.47%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ES shares. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Monday, November 24th. JPMorgan Chase & Co. decreased their price objective on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Mizuho restated a “neutral” rating and set a $68.00 target price (down from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Finally, Scotiabank reduced their target price on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $71.50.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.