DnB Asset Management AS Has $2.81 Million Holdings in Eversource Energy (ES)

DnB Asset Management AS lowered its stake in shares of Eversource Energy (NYSE:ES) by 7.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 44,521 shares of the utilities provider’s stock after selling 3,400 shares during the period. DnB Asset Management AS’s holdings in Eversource Energy were worth $2,813,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Advisory Services Network LLC lifted its position in shares of Eversource Energy by 1.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after buying an additional 32 shares in the last quarter. Risk Paradigm Group LLC lifted its position in shares of Eversource Energy by 111.7% during the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock worth $128,000 after buying an additional 1,117 shares in the last quarter. Sun Life Financial INC lifted its position in shares of Eversource Energy by 23,040.0% during the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after buying an additional 2,304 shares in the last quarter. WFG Advisors LP lifted its position in shares of Eversource Energy by 127.8% during the 2nd quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after buying an additional 1,380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Eversource Energy by 63.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after buying an additional 1,265 shares in the last quarter. Institutional investors and hedge funds own 72.14% of the company’s stock.

Shares of Eversource Energy (ES) opened at $61.35 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. The company has a market cap of $19,440.00, a P/E ratio of 19.92, a P/E/G ratio of 3.13 and a beta of 0.31. Eversource Energy has a 1-year low of $54.10 and a 1-year high of $66.15.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The company had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The company’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. analysts expect that Eversource Energy will post 3.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were issued a $0.475 dividend. The ex-dividend date of this dividend was Friday, December 15th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.10%. Eversource Energy’s dividend payout ratio (DPR) is presently 61.69%.

In related news, COO Werner J. Schweiger sold 10,098 shares of Eversource Energy stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.53% of the company’s stock.

ES has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, January 8th. Williams Capital lifted their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Morgan Stanley lifted their target price on shares of Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Credit Suisse Group lifted their target price on shares of Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. Finally, Bank of America initiated coverage on shares of Eversource Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $64.95.

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Eversource Energy Profile

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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