Alps Advisors Inc. Has $27.52 Million Stock Holdings in Eversource Energy $ES

Alps Advisors Inc. grew its position in Eversource Energy (NYSE:ES) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 386,853 shares of the utilities provider’s stock after purchasing an additional 19,795 shares during the period. Alps Advisors Inc. owned about 0.10% of Eversource Energy worth $27,521,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ES. Canada Post Corp Registered Pension Plan increased its stake in shares of Eversource Energy by 50.6% in the third quarter. Canada Post Corp Registered Pension Plan now owns 6,610 shares of the utilities provider’s stock worth $466,000 after purchasing an additional 2,220 shares during the period. Ironwood Investment Counsel LLC raised its position in Eversource Energy by 7.0% in the third quarter. Ironwood Investment Counsel LLC now owns 19,711 shares of the utilities provider’s stock worth $1,402,000 after purchasing an additional 1,285 shares in the last quarter. State of Michigan Retirement System grew its position in Eversource Energy by 0.4% in the third quarter. State of Michigan Retirement System now owns 110,933 shares of the utilities provider’s stock valued at $7,892,000 after acquiring an additional 400 shares during the period. John G Ullman & Associates Inc. increased its position in shares of Eversource Energy by 44.6% during the 3rd quarter. John G Ullman & Associates Inc. now owns 162,925 shares of the utilities provider’s stock worth $11,590,000 after purchasing an additional 50,223 shares in the last quarter. Finally, Flagship Harbor Advisors LLC boosted its holdings in shares of Eversource Energy by 2.1% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 13,129 shares of the utilities provider’s stock worth $934,000 after acquiring an additional 269 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Down 0.6%

Shares of ES stock opened at $67.30 on Friday. The stock’s fifty day simple moving average is $68.08 and its 200 day simple moving average is $68.32. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $25.25 billion, a P/E ratio of 18.44, a P/E/G ratio of 2.30 and a beta of 0.77.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 4.7%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, March 5th. Eversource Energy’s dividend payout ratio is 82.47%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ES. JPMorgan Chase & Co. decreased their price target on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. TD Cowen assumed coverage on Eversource Energy in a research report on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price on the stock. BMO Capital Markets lowered their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Finally, Scotiabank dropped their price target on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $71.50.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.