BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Decreases Stock Position in Eversource Energy (NYSE:ES)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp cut its stake in shares of Eversource Energy (NYSE:ES) by 12.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 58,762 shares of the utilities provider’s stock after selling 8,209 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Eversource Energy were worth $3,999,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tidal Investments LLC grew its holdings in Eversource Energy by 1.8% in the 1st quarter. Tidal Investments LLC now owns 13,611 shares of the utilities provider’s stock worth $809,000 after acquiring an additional 243 shares during the last quarter. Cetera Investment Advisers raised its position in Eversource Energy by 283.2% during the 1st quarter. Cetera Investment Advisers now owns 91,062 shares of the utilities provider’s stock valued at $5,443,000 after purchasing an additional 67,300 shares during the last quarter. Cetera Advisors LLC lifted its holdings in Eversource Energy by 60.7% in the 1st quarter. Cetera Advisors LLC now owns 29,748 shares of the utilities provider’s stock worth $1,778,000 after buying an additional 11,233 shares during the period. Mather Group LLC. lifted its holdings in Eversource Energy by 21.8% in the 2nd quarter. Mather Group LLC. now owns 3,276 shares of the utilities provider’s stock worth $196,000 after buying an additional 586 shares during the period. Finally, Lynx Investment Advisory bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $25,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Down 3.7 %

NYSE:ES opened at $61.29 on Wednesday. The firm has a 50-day simple moving average of $64.17 and a two-hundred day simple moving average of $63.05. The firm has a market cap of $22.46 billion, a P/E ratio of -39.04, a P/E/G ratio of 2.55 and a beta of 0.60. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last announced its quarterly 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. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.97 earnings per share. Analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.67%. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Wall Street Analysts Forecast Growth

ES has been the topic of several research reports. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Scotiabank upped their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, BMO Capital Markets decreased their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average price target of $69.15.

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.