Rockland Trust Co. Cuts Position in Eversource Energy (NYSE:ES)

Rockland Trust Co. reduced its holdings in shares of Eversource Energy (NYSE:ES) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,670 shares of the utilities provider’s stock after selling 382 shares during the quarter. Rockland Trust Co.’s holdings in Eversource Energy were worth $785,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its position in 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 buying an additional 430,587 shares during the period. Wellington Management Group LLP purchased a new position in Eversource Energy in the third quarter valued at about $808,783,000. Geode Capital Management LLC grew its position in shares of Eversource Energy by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after acquiring an additional 268,588 shares during the period. FMR LLC increased its stake in shares of Eversource Energy by 2.7% during the 3rd quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after purchasing an additional 185,381 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eversource Energy by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock worth $337,270,000 after purchasing an additional 216,630 shares during the period. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

ES has been the subject of a number of recent research reports. Jefferies Financial Group started coverage on Eversource Energy in a research report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 target price for the company. Scotiabank lowered Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Barclays lifted their target price 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. Finally, Mizuho raised their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Price Performance

Shares of NYSE ES opened at $56.63 on Thursday. The stock’s 50-day simple moving average is $59.64 and its two-hundred day simple moving average is $62.94. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The firm has a market capitalization of $20.75 billion, a P/E ratio of -36.07, a P/E/G ratio of 2.38 and a beta of 0.62. 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 announced its 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. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the firm posted $0.97 earnings per share. Eversource Energy’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders 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 dividend yield of 5.05%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s dividend payout ratio is currently -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.