Sowa Financial Group Inc. Reduces Holdings in Eversource Energy (NYSE:ES)

Sowa Financial Group Inc. lowered its stake in Eversource Energy (NYSE:ES) by 2.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,570 shares of the utilities provider’s stock after selling 304 shares during the quarter. Eversource Energy makes up about 0.4% of Sowa Financial Group Inc.’s holdings, making the stock its 23rd biggest position. Sowa Financial Group Inc.’s holdings in Eversource Energy were worth $607,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ES. Brooklyn Investment Group acquired a new stake in Eversource Energy during the third quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Eversource Energy during the 3rd quarter worth $32,000. UMB Bank n.a. boosted its holdings in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new position in Eversource Energy in the third quarter valued at $48,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ES. Mizuho raised their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Barclays boosted their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Jefferies Financial Group started coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target for the company. Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.38.

Eversource Energy Trading Down 0.4 %

Shares of ES opened at $57.91 on Tuesday. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The stock’s 50-day moving average is $59.43 and its two-hundred day moving average is $62.95. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last released its quarterly 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 positive return on equity of 10.90% and a negative net margin of 4.73%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the company posted $0.97 EPS. Eversource Energy’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date was Wednesday, December 18th. Eversource Energy’s payout ratio is -182.17%.

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.