Teachers Retirement System of The State of Kentucky Lowers Position in Eversource Energy (NYSE:ES)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Eversource Energy (NYSE:ES) by 4.2% during the third quarter, HoldingsChannel.com reports. The firm owned 26,504 shares of the utilities provider’s stock after selling 1,167 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Eversource Energy were worth $1,804,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Toronto Dominion Bank raised its position in shares of Eversource Energy by 42.5% in the 3rd quarter. Toronto Dominion Bank now owns 191,808 shares of the utilities provider’s stock worth $13,053,000 after buying an additional 57,161 shares during the period. Coldstream Capital Management Inc. raised its holdings in shares of Eversource Energy by 11.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 8,830 shares of the utilities provider’s stock worth $598,000 after purchasing an additional 899 shares during the period. Strait & Sound Wealth Management LLC acquired a new position in shares of Eversource Energy in the 3rd quarter valued at about $206,000. Geode Capital Management LLC lifted its stake in shares of Eversource Energy by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after purchasing an additional 268,588 shares in the last quarter. Finally, Brophy Wealth Management LLC purchased a new stake in shares of Eversource Energy during the 3rd quarter worth about $271,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES opened at $58.13 on Tuesday. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The firm has a market cap of $21.30 billion, a price-to-earnings ratio of -37.02, a PEG ratio of 2.38 and a beta of 0.60. The business’s 50 day moving average is $63.05 and its two-hundred day moving average is $63.16.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.97 EPS. Analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is currently -182.17%.

Analysts Set New Price Targets

A number of research analysts have weighed in on ES shares. Mizuho lifted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Barclays lifted their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Bank of America increased their price target on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets reduced their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Finally, StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $68.38.

Eversource Energy Company 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.