Exchange Traded Concepts LLC Grows Position in Eversource Energy (NYSE:ES)

Exchange Traded Concepts LLC boosted its holdings in Eversource Energy (NYSE:ES) by 10.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,855 shares of the utilities provider’s stock after acquiring an additional 176 shares during the period. Exchange Traded Concepts LLC’s holdings in Eversource Energy were worth $107,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. lifted its position in Eversource Energy by 2.8% during the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 166 shares during the period. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Eversource Energy by 14.7% during the 3rd 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 during the period. UMB Bank n.a. lifted its holdings in shares of Eversource Energy by 38.4% during the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after buying an additional 197 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Eversource Energy by 1.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,368,000 after buying an additional 200 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in shares of Eversource Energy by 1.8% in the third quarter. Signaturefd LLC now owns 11,930 shares of the utilities provider’s stock worth $812,000 after acquiring an additional 206 shares during the period. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ES shares. 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 report on Tuesday, October 15th. Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Barclays decreased their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Finally, Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $66.00 to $56.00 in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $67.42.

Eversource Energy Stock Up 0.4 %

Shares of ES opened at $57.64 on Friday. 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 12-month low of $52.71 and a 12-month high of $69.01. The business’s 50 day moving average is $58.55 and its 200 day moving average is $62.82. The company has a market capitalization of $21.12 billion, a PE ratio of -36.71, a price-to-earnings-growth ratio of 2.19 and a beta of 0.62.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the company posted $0.97 earnings per share. Eversource Energy’s quarterly revenue was up 9.7% on a year-over-year basis. Research analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 5.22%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is -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.