Brown Brothers Harriman & Co. Boosts Stake in Eversource Energy (NYSE:ES)

Brown Brothers Harriman & Co. raised its position in Eversource Energy (NYSE:ES) by 2.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,147 shares of the utilities provider’s stock after purchasing an additional 166 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Eversource Energy were worth $418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lynx Investment Advisory bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Eversource Energy during the third quarter valued at approximately $32,000. UMB Bank n.a. raised its stake in shares of 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 acquiring an additional 198 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of Eversource Energy by 162.0% during the third 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 bought a new stake in shares of Eversource Energy during the third quarter valued at approximately $48,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ES has been the subject of several research analyst reports. Scotiabank lifted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Mizuho boosted their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Finally, Bank of America boosted their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average price target of $70.46.

Eversource Energy Price Performance

Shares of ES opened at $64.59 on Thursday. The firm has a market capitalization of $23.67 billion, a PE ratio of -41.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The company’s fifty day moving average price is $64.44 and its 200-day moving average price is $62.97.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data 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. 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%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.97 earnings per share. On average, equities research analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Eversource Energy Company 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.