Eversource Energy (NYSE:ES) Shares Sold by SouthState Corp

SouthState Corp cut its holdings in shares of Eversource Energy (NYSE:ES) by 30.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,693 shares of the utilities provider’s stock after selling 748 shares during the period. SouthState Corp’s holdings in Eversource Energy were worth $115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in Eversource Energy by 14.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock worth $90,000 after buying an additional 169 shares during the last quarter. Addison Advisors LLC boosted its position in shares of Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 185 shares during the last quarter. Bar Harbor Wealth Management grew its holdings in shares of Eversource Energy by 4.1% in the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 190 shares during the period. UMB Bank n.a. raised its stake in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the period. Finally, Louisiana State Employees Retirement System boosted its holdings in Eversource Energy by 1.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock valued at $1,368,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ES. Mizuho lifted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Wells Fargo & Company upped their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Bank of America lifted their price target 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. Finally, Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $70.46.

Eversource Energy Stock Performance

Shares of ES opened at $61.67 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The stock has a market capitalization of $22.60 billion, a PE ratio of -39.28, a PEG ratio of 2.47 and a beta of 0.61. The stock has a 50-day simple moving average of $64.99 and a 200-day simple moving average of $62.89.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. On average, analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.64%. Eversource Energy’s payout ratio is currently -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.