Capstone Investment Advisors LLC Raises Stock Position in Eversource Energy (NYSE:ES)

Capstone Investment Advisors LLC lifted its stake in Eversource Energy (NYSE:ES) by 8.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,814 shares of the utilities provider’s stock after buying an additional 544 shares during the period. Capstone Investment Advisors LLC’s holdings in Eversource Energy were worth $464,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bensler LLC purchased a new stake in shares of Eversource Energy in the second quarter valued at about $316,000. M&G Plc raised its stake in Eversource Energy by 16.8% during the 2nd quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after acquiring an additional 234,361 shares during the last quarter. Landscape Capital Management L.L.C. lifted its position in Eversource Energy by 46.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after acquiring an additional 10,093 shares during the period. Cetera Investment Advisers grew its stake in shares of Eversource Energy by 283.2% in 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. Finally, Toronto Dominion Bank grew its stake in shares of Eversource Energy by 23.2% in the 2nd quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock valued at $7,636,000 after purchasing an additional 25,377 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on ES. BMO Capital Markets cut their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Mizuho boosted their price target 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. Bank of America raised their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $70.58.

Eversource Energy Price Performance

Eversource Energy stock opened at $64.48 on Friday. The stock has a market capitalization of $23.63 billion, a P/E ratio of -41.07, a P/E/G ratio of 2.58 and a beta of 0.61. Eversource Energy has a 12-month low of $52.09 and a 12-month 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. The firm’s 50-day moving average is $64.33 and its two-hundred day moving average is $63.00.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business earned $0.97 earnings per share. Eversource Energy’s revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) 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.