Eversource Energy (NYSE:ES) Shares Sold by Continuum Advisory LLC

Continuum Advisory LLC reduced its holdings in Eversource Energy (NYSE:ES) by 13.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,219 shares of the utilities provider’s stock after selling 511 shares during the period. Continuum Advisory LLC’s holdings in Eversource Energy were worth $219,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy in the third quarter valued at about $808,783,000. Los Angeles Capital Management LLC lifted its stake in 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 buying an additional 651,263 shares in the last quarter. National Bank of Canada FI boosted its holdings in Eversource Energy by 446.0% in the 3rd quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock worth $51,019,000 after buying an additional 612,421 shares during the last quarter. Millennium Management LLC increased its stake in Eversource Energy by 75.8% during the 2nd quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock worth $74,142,000 after buying an additional 563,756 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after acquiring an additional 430,587 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Scotiabank lifted their price target 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. Jefferies Financial Group started coverage on shares of Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price on the stock. BMO Capital Markets reduced their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Bank of America boosted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Barclays increased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.15.

Eversource Energy Price Performance

NYSE:ES opened at $60.54 on Wednesday. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The stock’s fifty day moving average is $63.69 and its two-hundred day moving average is $63.08. The company has a market capitalization of $22.18 billion, a P/E ratio of -38.56, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) 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%. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. Equities analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

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

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.