MQS Management LLC Sells 924 Shares of Eversource Energy (NYSE:ES)

MQS Management LLC cut its holdings in Eversource Energy (NYSE:ES) by 22.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,204 shares of the utilities provider’s stock after selling 924 shares during the period. MQS Management LLC’s holdings in Eversource Energy were worth $218,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Public Sector Pension Investment Board grew its stake in shares of Eversource Energy by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after acquiring an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Eversource Energy by 12.7% in 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 in the last quarter. ClearBridge Investments Ltd acquired a new position in shares of Eversource Energy in the first quarter valued at about $156,093,000. Zimmer Partners LP grew its stake in shares of Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after acquiring an additional 2,231,585 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake 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 worth $100,110,000 after buying an additional 374,458 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Up 0.6 %

Shares of NYSE ES opened at $61.85 on Friday. The company has a 50 day simple moving average of $65.35 and a 200 day simple moving average of $62.83. The firm has a market cap of $22.66 billion, a PE ratio of -39.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business 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 firm’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business earned $0.97 EPS. On average, research analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 4.62%. Eversource Energy’s payout ratio is -182.17%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Mizuho increased their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. BMO Capital Markets reduced 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 research note on Tuesday, October 15th. Bank of America increased their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.