Eversource Energy (NYSE:ES) Stock Position Lifted by Fmr LLC

Fmr LLC lifted its stake in shares of Eversource Energy (NYSE:ES) by 2.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,019,064 shares of the utilities provider’s stock after purchasing an additional 185,381 shares during the quarter. Fmr LLC owned about 1.92% of Eversource Energy worth $477,647,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Public Sector Pension Investment Board boosted its stake in Eversource Energy by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after purchasing an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after acquiring an additional 354,429 shares during the period. Hsbc Holdings PLC grew its holdings in Eversource Energy by 26.9% during the second quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock worth $100,110,000 after acquiring an additional 374,458 shares during the period. M&G Plc raised its position in Eversource Energy by 16.8% in the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock worth $92,721,000 after acquiring an additional 234,361 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Eversource Energy by 10.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,323,319 shares of the utilities provider’s stock valued at $75,051,000 after acquiring an additional 121,663 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of ES opened at $64.48 on Friday. The business’s 50-day moving average is $64.33 and its 200-day moving average is $63.00. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The company has a market capitalization of $23.63 billion, a price-to-earnings ratio of -41.07, a P/E/G ratio of 2.58 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01.

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

Eversource Energy Announces Dividend

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. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.44%. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ES. Barclays lifted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. BMO Capital Markets decreased their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Mizuho increased their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley boosted their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.58.

About Eversource Energy

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.