Assenagon Asset Management S.A. Reduces Stock Position in Eversource Energy (NYSE:ES)

Assenagon Asset Management S.A. lessened its holdings in shares of Eversource Energy (NYSE:ES) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,208 shares of the utilities provider’s stock after selling 339 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Eversource Energy were worth $759,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in shares of Eversource Energy during the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new position in Eversource Energy during the third quarter valued at approximately $32,000. UMB Bank n.a. boosted its position in shares of Eversource Energy by 62.9% in 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. Larson Financial Group LLC increased 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 worth $38,000 after purchasing an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Eversource Energy during the 3rd quarter valued at $48,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ES. Mizuho raised 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. BMO Capital Markets cut their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Jefferies Financial Group began coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. Finally, Barclays dropped their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $67.83.

Eversource Energy Price Performance

ES opened at $56.31 on Friday. Eversource Energy has a 52-week low of $52.71 and a 52-week high of $69.01. The stock has a market cap of $20.63 billion, a P/E ratio of -35.87, a PEG ratio of 2.13 and a beta of 0.62. The business has a fifty day moving average of $59.12 and a 200 day moving average of $62.87. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last posted its quarterly 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. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 EPS. As a group, sell-side analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend was Wednesday, December 18th. Eversource Energy’s dividend payout ratio (DPR) is presently -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.