The Manufacturers Life Insurance Company Sells 2,010 Shares of Eversource Energy (NYSE:ES)

The Manufacturers Life Insurance Company decreased its holdings in Eversource Energy (NYSE:ES) by 0.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 768,997 shares of the utilities provider’s stock after selling 2,010 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Eversource Energy were worth $52,330,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of ES. Los Angeles Capital Management LLC boosted its position in Eversource Energy by 201.4% during the second quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock valued at $55,273,000 after acquiring an additional 651,263 shares during the last quarter. Millennium Management LLC boosted its position in Eversource Energy by 75.8% during the second quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock valued at $74,142,000 after acquiring an additional 563,756 shares during the last quarter. Swedbank AB bought a new stake in Eversource Energy during the first quarter valued at $31,928,000. Hsbc Holdings PLC boosted its position in Eversource Energy by 26.9% during the second quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after acquiring an additional 374,458 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after acquiring an additional 354,429 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.6 %

ES opened at $64.59 on Friday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The firm has a market capitalization of $23.67 billion, a PE ratio of -41.14, a P/E/G ratio of 2.56 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The company’s 50-day moving average is $64.39 and its 200 day moving average is $62.98.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The firm had revenue of $3.06 billion during 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 company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. As a group, research analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ES. BMO Capital Markets dropped their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Bank of America upped their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley upped their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Finally, Mizuho upped their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $70.46.

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.