Nomura Asset Management Co. Ltd. Sells 150,487 Shares of Eversource Energy (NYSE:ES)

Nomura Asset Management Co. Ltd. cut its stake in Eversource Energy (NYSE:ES) by 39.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 227,376 shares of the utilities provider’s stock after selling 150,487 shares during the quarter. Nomura Asset Management Co. Ltd. owned about 0.06% of Eversource Energy worth $15,473,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its holdings in shares of Eversource Energy by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 166 shares during the period. Massmutual Trust Co. FSB ADV raised its position in shares of Eversource Energy by 14.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after buying an additional 169 shares in the last quarter. Addison Advisors LLC lifted its holdings in shares of Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 185 shares during the last quarter. Bar Harbor Wealth Management grew its position in Eversource Energy by 4.1% in the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 190 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES opened at $60.54 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The stock has a market capitalization of $22.18 billion, a PE ratio of -38.56, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. The stock’s 50 day moving average price is $63.69 and its 200-day moving average price is $63.08. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS 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 period last year, the company posted $0.97 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.72%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is currently -182.17%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ES. 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 report on Tuesday, October 15th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target on the stock. Barclays upped their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Mizuho lifted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $69.15.

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.