Blue Trust Inc. Acquires 1,163 Shares of Eversource Energy (NYSE:ES)

Blue Trust Inc. grew its stake in Eversource Energy (NYSE:ES) by 49.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,510 shares of the utilities provider’s stock after acquiring an additional 1,163 shares during the period. Blue Trust Inc.’s holdings in Eversource Energy were worth $202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brooklyn Investment Group bought a new position in Eversource Energy in the third quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $32,000. UMB Bank n.a. boosted its holdings 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 valued at $35,000 after buying an additional 198 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of Eversource Energy by 162.0% in 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 acquired a new position in Eversource Energy during the third quarter worth $48,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price target for the company from $66.00 to $56.00 in a research note on Thursday, December 12th. Jefferies Financial Group cut their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. BMO Capital Markets cut their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Finally, Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Stock Down 0.7 %

ES opened at $58.08 on Wednesday. The stock has a fifty day moving average of $58.44 and a 200-day moving average of $62.83. The company has a market capitalization of $21.28 billion, a P/E ratio of -36.99, a P/E/G ratio of 2.20 and a beta of 0.62. Eversource Energy has a fifty-two week low of $52.71 and a fifty-two week high of $69.01. 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 (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share 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 quarter in the previous year, the company earned $0.97 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.18%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s payout ratio is presently -182.17%.

Eversource Energy Company 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.