Eversource Energy (NYSE:ES) Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in Eversource Energy (NYSE:ES) by 6.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,268 shares of the utilities provider’s stock after purchasing an additional 2,296 shares during the quarter. Intech Investment Management LLC’s holdings in Eversource Energy were worth $2,740,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ES. Zimmer Partners LP increased its holdings in shares of Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after buying an additional 2,231,585 shares in the last quarter. BROOKFIELD Corp ON purchased a new stake in shares of Eversource Energy during the first quarter valued at $65,389,000. Los Angeles Capital Management LLC boosted its position in shares of Eversource Energy by 201.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock valued at $55,273,000 after purchasing an additional 651,263 shares during the period. Millennium Management LLC increased its stake in Eversource Energy by 75.8% in the 2nd quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock worth $74,142,000 after purchasing an additional 563,756 shares in the last quarter. Finally, Swedbank AB acquired a new stake in Eversource Energy during the 1st quarter worth about $31,928,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Shares of ES opened at $63.38 on Friday. 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 firm has a market cap of $23.22 billion, a PE ratio of -40.37, a PEG ratio of 2.51 and a beta of 0.61. The firm’s 50 day moving average price is $64.68 and its 200 day moving average price is $62.92. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01.

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

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.51%. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Morgan Stanley boosted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Scotiabank increased their price objective on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $70.46.

Eversource Energy Company 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.