US Bancorp DE Reduces Stock Position in Eversource Energy (NYSE:ES)

US Bancorp DE trimmed its position in Eversource Energy (NYSE:ES) by 2.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,124 shares of the utilities provider’s stock after selling 995 shares during the quarter. US Bancorp DE’s holdings in Eversource Energy were worth $3,071,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Norden Group LLC bought a new position in shares of Eversource Energy in the 1st quarter worth $461,000. Private Advisor Group LLC increased its holdings in shares of Eversource Energy by 66.5% in the first quarter. Private Advisor Group LLC now owns 20,444 shares of the utilities provider’s stock valued at $1,222,000 after purchasing an additional 8,167 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Eversource Energy by 24.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock valued at $4,232,000 after purchasing an additional 13,950 shares during the period. Janney Montgomery Scott LLC increased its holdings in shares of Eversource Energy by 14.6% in the first quarter. Janney Montgomery Scott LLC now owns 120,168 shares of the utilities provider’s stock valued at $7,182,000 after purchasing an additional 15,340 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Eversource Energy by 174.3% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 4,306 shares of the utilities provider’s stock valued at $257,000 after purchasing an additional 2,736 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $62.07 on Wednesday. The business has a 50 day simple moving average of $66.26 and a two-hundred day simple moving average of $62.84. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The stock has a market capitalization of $22.18 billion, a P/E ratio of -39.54, a PEG ratio of 2.48 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the firm earned $0.97 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.61%. Eversource Energy’s payout ratio is currently -182.17%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America increased their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays upped their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, BMO Capital Markets lowered their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $70.07.

Insider Buying and Selling at Eversource Energy

In related news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.