Great West Life Assurance Co. Can Trims Holdings in Eversource Energy (NYSE:ES)

Great West Life Assurance Co. Can cut its position in shares of Eversource Energy (NYSE:ES) by 16.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 624,929 shares of the utilities provider’s stock after selling 121,194 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.18% of Eversource Energy worth $44,570,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its position in Eversource Energy by 0.3% during the first quarter. BlackRock Inc. now owns 38,256,110 shares of the utilities provider’s stock worth $2,993,923,000 after buying an additional 131,432 shares during the period. Moneta Group Investment Advisors LLC lifted its holdings in shares of Eversource Energy by 101,201.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock worth $1,057,818,000 after acquiring an additional 12,604,649 shares during the period. Geode Capital Management LLC boosted its position in shares of Eversource Energy by 1.7% in the first quarter. Geode Capital Management LLC now owns 7,548,700 shares of the utilities provider’s stock worth $589,477,000 after acquiring an additional 124,871 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Eversource Energy by 6.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,162,480 shares of the utilities provider’s stock valued at $486,935,000 after purchasing an additional 442,363 shares during the period. Finally, Legal & General Group Plc increased its position in Eversource Energy by 1.3% during the fourth quarter. Legal & General Group Plc now owns 5,632,170 shares of the utilities provider’s stock worth $472,202,000 after purchasing an additional 69,826 shares during the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.

Eversource Energy Stock Down 0.4 %

Shares of NYSE:ES opened at $58.30 on Tuesday. The firm has a market cap of $20.37 billion, a PE ratio of 17.46, a price-to-earnings-growth ratio of 2.65 and a beta of 0.54. The company has a current ratio of 0.56, a quick ratio of 0.50 and a debt-to-equity ratio of 1.41. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $87.71. The company has a fifty day simple moving average of $57.22 and a 200 day simple moving average of $65.32.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 6th. The utilities provider reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.12 billion. Eversource Energy had a return on equity of 9.64% and a net margin of 9.52%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.01 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.35 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 25th were issued a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Friday, September 22nd. Eversource Energy’s dividend payout ratio is presently 80.84%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. StockNews.com initiated coverage on shares of Eversource Energy in a report on Thursday, October 5th. They issued a “sell” rating on the stock. Citigroup cut their price target on shares of Eversource Energy from $80.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. Morgan Stanley reduced their price target on shares of Eversource Energy from $78.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 25th. Mizuho dropped their price objective on shares of Eversource Energy from $79.00 to $73.00 in a research report on Friday, July 28th. Finally, BMO Capital Markets decreased their price target on shares of Eversource Energy from $75.00 to $62.00 and set a “market perform” rating for the company in a research report on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $68.67.

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.