Pathway Financial Advisers LLC Sells 47,740 Shares of Eversource Energy (NYSE:ES)

Pathway Financial Advisers LLC decreased its position in Eversource Energy (NYSE:ES) by 98.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 712 shares of the utilities provider’s stock after selling 47,740 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Eversource Energy were worth $41,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Eversource Energy in the third quarter valued at approximately $808,783,000. National Bank of Canada FI lifted its stake in shares of Eversource Energy by 446.0% in the 3rd quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after purchasing an additional 612,421 shares during the period. Nordea Investment Management AB boosted its position in shares of Eversource Energy by 41.7% in the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares during the last quarter. State Street Corp grew its stake in shares of Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after purchasing an additional 430,587 shares during the period. Finally, Retirement Systems of Alabama grew its stake in shares of Eversource Energy by 518.1% during the third quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock worth $32,683,000 after purchasing an additional 402,574 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ES has been the topic of several analyst reports. 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. Scotiabank reduced their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday. Wells Fargo & Company decreased their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.00.

Eversource Energy Trading Up 4.7 %

ES opened at $62.50 on Friday. The firm’s fifty day simple moving average is $57.89 and its 200 day simple moving average is $62.68. The stock has a market capitalization of $22.90 billion, a P/E ratio of -39.81, a P/E/G ratio of 2.25 and a beta of 0.62. 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 $54.75 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. As a group, research analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. 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 4.82%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. 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.