Prossimo Advisors LLC Has $321,000 Position in Eversource Energy (NYSE:ES)

Prossimo Advisors LLC reduced its stake in shares of Eversource Energy (NYSE:ES) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,585 shares of the utilities provider’s stock after selling 484 shares during the quarter. Prossimo Advisors LLC’s holdings in Eversource Energy were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ES. Mcdonald Partners LLC grew its stake in Eversource Energy by 16.3% in the fourth quarter. Mcdonald Partners LLC now owns 14,367 shares of the utilities provider’s stock valued at $825,000 after acquiring an additional 2,009 shares during the period. Kestra Investment Management LLC acquired a new stake in Eversource Energy during the 4th quarter worth approximately $29,000. Venturi Wealth Management LLC raised its holdings in Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after buying an additional 301 shares during the period. D.A. Davidson & CO. raised its holdings in Eversource Energy by 16.9% during the 4th quarter. D.A. Davidson & CO. now owns 24,910 shares of the utilities provider’s stock worth $1,431,000 after buying an additional 3,593 shares during the period. Finally, Truist Financial Corp raised its holdings in Eversource Energy by 5.6% during the 4th quarter. Truist Financial Corp now owns 21,385 shares of the utilities provider’s stock worth $1,228,000 after buying an additional 1,138 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Eversource Energy stock opened at $61.36 on Wednesday. The stock has a market cap of $22.48 billion, a PE ratio of 26.56, a P/E/G ratio of 2.36 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 has a 12-month low of $54.75 and a 12-month high of $69.01. The business’s 50-day moving average price is $57.99 and its two-hundred day moving average price is $62.55.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 11.04%. As a group, analysts expect that Eversource Energy will post 4.76 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.91%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is currently 123.81%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on ES shares. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research note on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Scotiabank cut their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Barclays cut their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Finally, Jefferies Financial Group reduced their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $67.45.

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.