Eversource Energy (NYSE:ES) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its position in Eversource Energy (NYSE:ES) by 19.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,268 shares of the utilities provider’s stock after selling 8,233 shares during the period. Advisors Asset Management Inc.’s holdings in Eversource Energy were worth $2,332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ES. Massmutual Trust Co. FSB ADV increased its position in shares of Eversource Energy by 14.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after buying an additional 169 shares in the last quarter. Addison Advisors LLC increased its holdings in Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 185 shares in the last quarter. Bar Harbor Wealth Management raised its position in Eversource Energy by 4.1% during the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 190 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Eversource Energy by 62.9% in 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 in the last quarter. Finally, Louisiana State Employees Retirement System grew its position in shares of Eversource Energy by 1.0% in the third quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock valued at $1,368,000 after purchasing an additional 200 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of recent research reports. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Finally, Barclays upped their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $70.46.

Eversource Energy Stock Performance

NYSE:ES opened at $63.38 on Friday. The firm’s fifty day simple moving average is $64.68 and its 200 day simple moving average is $62.92. 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 has a twelve month low of $52.09 and a twelve month high of $69.01. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of -40.37, a PEG ratio of 2.51 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released 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 company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the company posted $0.97 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is presently -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.