Eversource Energy (NYSE:ES) Stake Raised by Tidal Investments LLC

Tidal Investments LLC boosted its holdings in shares of Eversource Energy (NYSE:ES) by 5.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 13,849 shares of the utilities provider’s stock after acquiring an additional 689 shares during the quarter. Tidal Investments LLC’s holdings in Eversource Energy were worth $942,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in Eversource Energy by 41.0% in the 2nd quarter. Blue Trust Inc. now owns 998 shares of the utilities provider’s stock valued at $60,000 after buying an additional 290 shares during the period. Raymond James & Associates increased its stake in shares of Eversource Energy by 2.1% in the second quarter. Raymond James & Associates now owns 170,963 shares of the utilities provider’s stock worth $9,695,000 after acquiring an additional 3,475 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Eversource Energy during the second quarter worth $207,000. Retirement Systems of Alabama boosted its position in Eversource Energy by 0.8% during the second quarter. Retirement Systems of Alabama now owns 77,704 shares of the utilities provider’s stock valued at $4,407,000 after purchasing an additional 603 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its stake in Eversource Energy by 16.3% in the second quarter. Spirit of America Management Corp NY now owns 9,650 shares of the utilities provider’s stock valued at $547,000 after purchasing an additional 1,350 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analysts Set New Price Targets

ES has been the subject of several research reports. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Barclays lifted their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 target price on the stock. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Finally, Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their price objective for the stock from $66.00 to $56.00 in a research note on Thursday, December 12th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average price target of $68.38.

Eversource Energy Stock Down 0.5 %

Shares of ES opened at $55.90 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average price of $62.64 and a two-hundred day moving average price of $63.06. The stock has a market cap of $20.48 billion, a price-to-earnings ratio of -35.61, a P/E/G ratio of 2.38 and a beta of 0.60. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last posted its 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 positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company earned $0.97 EPS. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. Equities analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s 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.