Richard Bernstein Advisors LLC Acquires 16,446 Shares of Eversource Energy (NYSE:ES)

Richard Bernstein Advisors LLC raised its stake in shares of Eversource Energy (NYSE:ES) by 129.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 29,127 shares of the utilities provider’s stock after acquiring an additional 16,446 shares during the period. Richard Bernstein Advisors LLC’s holdings in Eversource Energy were worth $2,066,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Shelton Capital Management purchased a new stake in Eversource Energy in the first quarter worth approximately $587,000. J.W. Cole Advisors Inc. boosted its stake in shares of Eversource Energy by 8.2% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 5,767 shares of the utilities provider’s stock worth $409,000 after buying an additional 438 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Eversource Energy by 6.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 159,872 shares of the utilities provider’s stock worth $12,512,000 after buying an additional 9,986 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of Eversource Energy by 8.9% in the first quarter. NewEdge Advisors LLC now owns 31,258 shares of the utilities provider’s stock worth $2,440,000 after acquiring an additional 2,551 shares during the period. Finally, CVA Family Office LLC increased its position in Eversource Energy by 629.8% during the second quarter. CVA Family Office LLC now owns 2,080 shares of the utilities provider’s stock valued at $148,000 after acquiring an additional 1,795 shares during the last quarter. Hedge funds and other institutional investors own 80.83% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES traded up $0.43 during mid-day trading on Tuesday, reaching $58.73. The company’s stock had a trading volume of 331,245 shares, compared to its average volume of 2,143,687. The company has a debt-to-equity ratio of 1.41, a current ratio of 0.56 and a quick ratio of 0.50. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $87.71. The stock has a fifty day moving average of $57.22 and a two-hundred day moving average of $65.32. The firm has a market capitalization of $20.52 billion, a PE ratio of 17.54, a P/E/G ratio of 2.65 and a beta of 0.54.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 6th. The utilities provider reported $0.97 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.01). The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $3.12 billion. Eversource Energy had a return on equity of 9.64% and a net margin of 9.52%. The company’s revenue for the quarter was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 earnings per share. As a group, sell-side analysts anticipate that Eversource Energy will post 4.35 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Monday, September 25th were paid a $0.675 dividend. This represents a $2.70 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Friday, September 22nd. Eversource Energy’s payout ratio is currently 80.84%.

Analyst Ratings Changes

Several research analysts have issued reports on ES shares. Morgan Stanley raised their target price on Eversource Energy from $66.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday. UBS Group boosted their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Tuesday, November 7th. StockNews.com assumed coverage on shares of Eversource Energy in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Evercore ISI downgraded shares of Eversource Energy from an “outperform” rating to an “in-line” rating and cut their price objective for the company from $84.00 to $65.00 in a research report on Tuesday, November 7th. Finally, Barclays decreased their target price on Eversource Energy from $72.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.75.

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.