Empirical Finance LLC grew its stake in Eversource Energy (NYSE:ES – Free Report) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,039 shares of the utilities provider’s stock after acquiring an additional 267 shares during the period. Empirical Finance LLC’s holdings in Eversource Energy were worth $819,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. CIBC Asset Management Inc boosted its holdings in Eversource Energy by 9.4% in the third quarter. CIBC Asset Management Inc now owns 52,054 shares of the utilities provider’s stock valued at $3,542,000 after acquiring an additional 4,490 shares during the last quarter. Cadence Wealth Management LLC acquired a new position in Eversource Energy during the 3rd quarter valued at about $240,000. ING Groep NV bought a new position in shares of Eversource Energy in the 3rd quarter valued at about $3,253,000. Cable Hill Partners LLC boosted its stake in shares of Eversource Energy by 9.9% in the 3rd quarter. Cable Hill Partners LLC now owns 4,219 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 380 shares during the last quarter. Finally, Empower Advisory Group LLC grew its position in shares of Eversource Energy by 3.5% during the 3rd quarter. Empower Advisory Group LLC now owns 1,176,232 shares of the utilities provider’s stock worth $80,043,000 after buying an additional 39,863 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on ES shares. Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets cut their price target 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. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Mizuho upped their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Barclays raised their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.46.
Eversource Energy Stock Up 0.6 %
Shares of ES stock opened at $61.85 on Friday. Eversource Energy has a 12-month low of $52.09 and a 12-month 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 fifty day moving average of $65.24 and a 200-day moving average of $62.86. The company has a market capitalization of $22.66 billion, a price-to-earnings ratio of -39.39, a P/E/G ratio of 2.43 and a beta of 0.61.
Eversource Energy (NYSE:ES – Get Free Report) last released its 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 during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The company’s revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.
Eversource Energy Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.62%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is -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.
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