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

Retirement Systems of Alabama grew its stake in Eversource Energy (NYSE:ES) by 518.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 480,278 shares of the utilities provider’s stock after buying an additional 402,574 shares during the period. Retirement Systems of Alabama’s holdings in Eversource Energy were worth $32,683,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ES. Brooklyn Investment Group acquired a new stake in shares of Eversource Energy in the third quarter worth $31,000. Ashton Thomas Securities LLC acquired a new stake in Eversource Energy during the 3rd quarter worth about $32,000. UMB Bank n.a. raised its stake in shares of Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after buying an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Eversource Energy in the 3rd quarter valued at about $48,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their target price for the company from $66.00 to $56.00 in a report on Thursday. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday. Bank of America upped their price objective 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, Jefferies Financial Group started coverage on Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $68.38.

Eversource Energy Price Performance

NYSE:ES opened at $59.53 on Friday. The stock has a 50 day moving average of $63.17 and a two-hundred day moving average of $63.07. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The firm has a market cap of $21.81 billion, a P/E ratio of -37.91, a price-to-earnings-growth ratio of 2.40 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the company earned $0.97 EPS. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 4.80%. Eversource Energy’s dividend payout ratio is presently -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.