Arrowstreet Capital Limited Partnership Has $40.42 Million Stake in Eversource Energy $ES

Arrowstreet Capital Limited Partnership decreased its stake in shares of Eversource Energy (NYSE:ES) by 3.4% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 635,379 shares of the utilities provider’s stock after selling 22,104 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.17% of Eversource Energy worth $40,423,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Neo Ivy Capital Management acquired a new position in Eversource Energy in the 2nd quarter valued at approximately $26,000. Trust Co. of Toledo NA OH bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $28,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $31,000. Hilltop National Bank acquired a new position in shares of Eversource Energy in the second quarter valued at $32,000. Finally, True Wealth Design LLC lifted its position in Eversource Energy by 540.0% in the second quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 513 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president directly owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 0.6%

ES stock opened at $66.67 on Friday. The business has a fifty day moving average price of $71.12 and a 200 day moving average price of $67.11. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The stock has a market capitalization of $25.01 billion, a price-to-earnings ratio of 18.27, a P/E/G ratio of 2.93 and a beta of 0.76.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The business’s revenue was up 5.2% on a year-over-year basis. Analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a dividend of $0.7525 per share. The ex-dividend date of this dividend is Wednesday, December 17th. This represents a $3.01 dividend on an annualized basis and a yield of 4.5%. Eversource Energy’s dividend payout ratio is currently 82.47%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ES shares. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. BMO Capital Markets lowered their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. Wells Fargo & Company lowered shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $79.00 to $63.00 in a research report on Wednesday, November 19th. TD Cowen assumed coverage on Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective on the stock. Finally, UBS Group lowered Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research note on Thursday, November 6th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.55.

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.