Beaumont Financial Advisors LLC Sells 367 Shares of Eversource Energy (NYSE:ES)

Beaumont Financial Advisors LLC trimmed its position in Eversource Energy (NYSE:ES) by 7.3% in the fourth quarter, Holdings Channel reports. The fund owned 4,639 shares of the utilities provider’s stock after selling 367 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Eversource Energy were worth $266,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ES. Wellington Management Group LLP acquired a new stake in Eversource Energy in the third quarter valued at $808,783,000. National Bank of Canada FI increased its holdings 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 valued at $51,019,000 after purchasing an additional 612,421 shares during the period. Millennium Management LLC increased its holdings in Eversource Energy by 75.8% in the second quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock valued at $74,142,000 after purchasing an additional 563,756 shares during the period. Nordea Investment Management AB increased its holdings in Eversource Energy by 41.7% in the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after purchasing an additional 510,582 shares during the period. Finally, State Street Corp increased its holdings in Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after purchasing an additional 430,587 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of recent research reports. BMO Capital Markets decreased their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Jefferies Financial Group started coverage on Eversource Energy in a research note on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 target price for the company. Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $66.00 to $56.00 in a research note on Thursday, December 12th. Finally, Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Two equities 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.83.

Eversource Energy Price Performance

Eversource Energy stock opened at $56.33 on Friday. Eversource Energy has a 52 week low of $52.71 and a 52 week high of $69.01. The company’s 50 day moving average price is $59.22 and its two-hundred day moving average price is $62.91. 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 stock has a market cap of $20.64 billion, a P/E ratio of -35.88, a P/E/G ratio of 2.23 and a beta of 0.62.

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 analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion for 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%. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.97 EPS. On average, equities analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were paid a $0.715 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 dividend on an annualized basis and a yield of 5.08%. Eversource Energy’s dividend payout ratio is -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.