Armstrong Advisory Group Inc. Has $694,000 Stake in Eversource Energy (NYSE:ES)

Armstrong Advisory Group Inc. lowered its stake in shares of Eversource Energy (NYSE:ES) by 2.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 12,087 shares of the utilities provider’s stock after selling 328 shares during the period. Armstrong Advisory Group Inc.’s holdings in Eversource Energy were worth $694,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in ES. Wellington Management Group LLP acquired a new stake in Eversource Energy during the third quarter worth $808,783,000. National Bank of Canada FI boosted its position in shares of Eversource Energy by 446.0% during the 3rd quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after acquiring an additional 612,421 shares in the last quarter. Millennium Management LLC increased its stake in Eversource Energy by 75.8% in the second quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock valued at $74,142,000 after acquiring an additional 563,756 shares during the period. Nordea Investment Management AB raised its position in Eversource Energy by 41.7% in the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares in the last quarter. Finally, State Street Corp lifted its stake in Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

ES opened at $56.63 on Thursday. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The firm has a 50-day moving average price of $59.64 and a two-hundred day moving average price of $62.94. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company posted $0.97 EPS. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. As a group, analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Analyst Upgrades and Downgrades

ES has been the topic of several analyst reports. Jefferies Financial Group started coverage on Eversource Energy in a research note on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price objective on the stock. Barclays upped their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. BMO Capital Markets lowered their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Finally, Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price target for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $68.38.

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.