Eversource Energy (NYSE:ES) Position Boosted by Spirit of America Management Corp NY

Spirit of America Management Corp NY boosted its position in Eversource Energy (NYSE:ES) by 32.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,850 shares of the utilities provider’s stock after buying an additional 3,900 shares during the quarter. Spirit of America Management Corp NY’s holdings in Eversource Energy were worth $910,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP bought a new stake in shares of Eversource Energy in the 3rd quarter worth approximately $808,783,000. National Bank of Canada FI raised its position in Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock worth $51,019,000 after acquiring an additional 612,421 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Eversource Energy by 41.7% in the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares in the last quarter. State Street Corp lifted its position in shares of Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after acquiring an additional 430,587 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of Eversource Energy by 518.1% in the 3rd quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock valued at $32,683,000 after purchasing an additional 402,574 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock opened at $58.08 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The business has a fifty day moving average price of $58.44 and a 200 day moving average price of $62.83. Eversource Energy has a fifty-two week low of $52.71 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm earned $0.97 EPS. The company’s revenue was up 9.7% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.18%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

Analyst Ratings Changes

Several research firms have weighed in on ES. Barclays lowered their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. 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 research report on Thursday, December 12th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. BMO Capital Markets lowered their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. 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. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.42.

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.