Citigroup Inc. Decreases Stock Holdings in Eversource Energy (NYSE:ES)

Citigroup Inc. reduced its holdings in shares of Eversource Energy (NYSE:ES) by 29.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 211,984 shares of the utilities provider’s stock after selling 87,308 shares during the period. Citigroup Inc.’s holdings in Eversource Energy were worth $15,034,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ES. Quarry LP boosted its stake in shares of Eversource Energy by 275.0% in the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 231 shares during the period. Resurgent Financial Advisors LLC purchased a new position in shares of Eversource Energy in the fourth quarter valued at $27,000. Ameritas Advisory Services LLC purchased a new position in shares of Eversource Energy in the first quarter valued at $29,000. Concord Wealth Partners boosted its stake in shares of Eversource Energy by 198.6% in the second quarter. Concord Wealth Partners now owns 442 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 294 shares during the period. Finally, Andesa Financial Management Inc. purchased a new position in shares of Eversource Energy in the first quarter valued at $377,000. 80.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ES has been the topic of several recent analyst reports. Barclays cut their price target on shares of Eversource Energy from $72.00 to $61.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 24th. Guggenheim cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $60.00 price target on the stock. in a report on Friday, October 13th. BMO Capital Markets cut their price target on shares of Eversource Energy from $75.00 to $62.00 and set a “market perform” rating on the stock in a report on Friday, October 13th. Citigroup cut their price target on shares of Eversource Energy from $80.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, October 26th. Finally, Morgan Stanley cut their price target on shares of Eversource Energy from $78.00 to $66.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average target price of $68.67.

Eversource Energy Stock Down 0.4 %

Shares of NYSE:ES opened at $58.30 on Tuesday. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 17.46, a price-to-earnings-growth ratio of 2.65 and a beta of 0.54. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $87.71. The company’s fifty day moving average is $57.22 and its two-hundred day moving average is $65.32. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.50 and a current ratio of 0.56.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Monday, November 6th. The utilities provider reported $0.97 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.01). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.12 billion. Eversource Energy had a return on equity of 9.64% and a net margin of 9.52%. The firm’s revenue was down 13.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 EPS. Equities analysts anticipate that Eversource Energy will post 4.35 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 25th were given a dividend of $0.675 per share. The ex-dividend date was Friday, September 22nd. This represents a $2.70 annualized dividend and a dividend yield of 4.63%. Eversource Energy’s dividend payout ratio is currently 80.84%.

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.