Eversource Energy (NYSE:ES) Shares Acquired by Retirement Systems of Alabama

Retirement Systems of Alabama boosted its holdings in shares of Eversource Energy (NYSE:ES) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 482,202 shares of the utilities provider’s stock after purchasing an additional 1,924 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of Eversource Energy worth $27,693,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in Eversource Energy during the third quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in Eversource Energy during the third quarter valued at approximately $32,000. UMB Bank n.a. lifted its stake in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $48,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Barclays reduced their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $66.00 to $56.00 in a research report on Thursday, December 12th. Finally, BMO Capital Markets reduced their price target 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.42.

Eversource Energy Stock Up 0.9 %

ES stock opened at $58.56 on Thursday. The company has a 50 day moving average of $58.33 and a two-hundred day moving average of $62.81. Eversource Energy has a 12-month low of $52.71 and a 12-month high of $69.01. The company has a market cap of $21.46 billion, a price-to-earnings ratio of -37.30, a PEG ratio of 2.20 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 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 negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the business posted $0.97 EPS. Eversource Energy’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.14%. Eversource Energy’s dividend 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.