Massachusetts Financial Services Co. MA Trims Stake in Eversource Energy (NYSE:ES)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Eversource Energy (NYSE:ESFree Report) by 0.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,658,940 shares of the utilities provider’s stock after selling 4,411 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.48% of Eversource Energy worth $96,467,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP lifted its position in shares of Eversource Energy by 275.0% during the 1st quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after buying an additional 231 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of Eversource Energy in the fourth quarter worth $27,000. American National Bank purchased a new position in shares of Eversource Energy during the 3rd quarter valued at $25,000. Concord Wealth Partners boosted its holdings in Eversource Energy by 198.6% in the 2nd quarter. Concord Wealth Partners now owns 442 shares of the utilities provider’s stock worth $31,000 after buying an additional 294 shares during the period. Finally, Barrett & Company Inc. purchased a new stake in Eversource Energy in the 2nd quarter worth $37,000. 80.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ES shares. Barclays dropped their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. Morgan Stanley upped their target price on shares of Eversource Energy from $66.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 21st. UBS Group lifted their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Tuesday, November 7th. StockNews.com raised shares of Eversource Energy to a “sell” rating in a report on Thursday, January 11th. Finally, Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $60.00 to $72.00 in a report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.33.

Check Out Our Latest Stock Report on Eversource Energy

Eversource Energy Stock Performance

Shares of ES stock opened at $53.79 on Thursday. The company has a quick ratio of 0.50, a current ratio of 0.56 and a debt-to-equity ratio of 1.41. The firm has a market cap of $18.79 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 2.83 and a beta of 0.57. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $81.36. The company’s 50 day moving average is $58.67 and its 200 day moving average is $60.11.

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

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 5.32%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is 80.84%.

Insiders Place Their Bets

In other news, insider Faasen William C. Van sold 2,714 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $54.50, for a total value of $147,913.00. Following the completion of the sale, the insider now owns 19,619 shares of the company’s stock, valued at approximately $1,069,235.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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