Eversource Energy $ES Stake Cut by ProShare Advisors LLC

ProShare Advisors LLC decreased its holdings in shares of Eversource Energy (NYSE:ES) by 8.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,319,481 shares of the utilities provider’s stock after selling 203,931 shares during the quarter. ProShare Advisors LLC owned about 0.62% of Eversource Energy worth $148,818,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. CX Institutional boosted its stake in Eversource Energy by 4.3% during the 2nd quarter. CX Institutional now owns 3,513 shares of the utilities provider’s stock valued at $254,000 after purchasing an additional 144 shares in the last quarter. Bank & Trust Co increased its stake in Eversource Energy by 2.0% during the second quarter. Bank & Trust Co now owns 7,459 shares of the utilities provider’s stock valued at $539,000 after acquiring an additional 149 shares during the period. Oppenheimer & Co. Inc. raised its stake in Eversource Energy by 1.3% during the third quarter. Oppenheimer & Co. Inc. now owns 11,498 shares of the utilities provider’s stock worth $738,000 after acquiring an additional 151 shares in the last quarter. Kintegral Advisory LLC grew its stake in shares of Eversource Energy by 0.6% during the third quarter. Kintegral Advisory LLC now owns 27,019 shares of the utilities provider’s stock valued at $1,734,000 after purchasing an additional 152 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. lifted its stake in shares of Eversource Energy by 3.1% in the 3rd quarter. Retirement Planning Co of New England Inc. now owns 5,131 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 154 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on ES shares. JPMorgan Chase & Co. decreased their price objective on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Mizuho lifted their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Citigroup began coverage on shares of Eversource Energy in a report on Monday, July 27th. They issued a “hold” rating and a $81.00 price target for the company. BMO Capital Markets cut their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $72.91.

Eversource Energy Stock Performance

NYSE ES opened at $68.66 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74. Eversource Energy has a 1-year low of $62.72 and a 1-year high of $76.57. The stock has a 50-day moving average of $67.44 and a two-hundred day moving average of $70.02. The company has a market cap of $25.86 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.98 and a beta of 0.67.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the company earned $0.96 earnings per share. Eversource Energy’s quarterly revenue was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that Eversource Energy will post 4.63 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a $0.7875 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is currently 81.61%.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.