Avanza Fonder AB Buys New Stake in Eversource Energy (NYSE:ES)

Avanza Fonder AB purchased a new position in shares of Eversource Energy (NYSE:ES) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 37,742 shares of the utilities provider’s stock, valued at approximately $2,168,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in Eversource Energy during the third quarter worth approximately $31,000. Ashton Thomas Securities LLC acquired a new position in shares of Eversource Energy during the 3rd quarter valued at $32,000. UMB Bank n.a. raised its stake in shares of Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares in the last quarter. Larson Financial Group LLC boosted its stake in Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after buying an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in Eversource Energy during the third quarter valued at about $48,000. Institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ES shares. BMO Capital Markets cut 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 report on Tuesday, October 15th. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Jefferies Financial Group assumed coverage on Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. Mizuho raised their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.38.

Eversource Energy Stock Down 0.4 %

Shares of Eversource Energy stock opened at $57.91 on Friday. 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 1 year low of $52.09 and a 1 year high of $69.01. The stock has a 50-day moving average price of $59.43 and a 200 day moving average price of $62.87. The company has a market cap of $21.22 billion, a P/E ratio of -36.88, a P/E/G ratio of 2.13 and a beta of 0.62.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate 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 business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the company posted $0.97 earnings per share. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

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.