Eversource Energy $ES Shares Purchased by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System increased its holdings in Eversource Energy (NYSE:ES) by 3.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 361,870 shares of the utilities provider’s stock after buying an additional 12,931 shares during the period. Maryland State Retirement & Pension System’s holdings in Eversource Energy were worth $25,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Neo Ivy Capital Management purchased a new stake in shares of Eversource Energy in the second quarter valued at approximately $26,000. Trust Co. of Toledo NA OH acquired a new stake in Eversource Energy in the 2nd quarter worth about $28,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Eversource Energy in the second quarter valued at approximately $31,000. Hilltop National Bank purchased a new stake in shares of Eversource Energy during the second quarter worth approximately $32,000. Finally, Anchor Investment Management LLC lifted its holdings in Eversource Energy by 122.0% in the 2nd quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on ES shares. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Monday, November 24th. Wells Fargo & Company downgraded shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $79.00 to $63.00 in a report on Wednesday, November 19th. UBS Group reduced their target price on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $68.00 target price (down previously from $81.00) on shares of Eversource Energy in a research report on Thursday, November 20th. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $71.27.

Insiders Place Their Bets

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. The trade was a 11.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Price Performance

ES stock opened at $70.09 on Friday. The business’s 50-day moving average is $68.07 and its two-hundred day moving average is $67.87. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The firm has a market capitalization of $26.30 billion, a P/E ratio of 19.20, a P/E/G ratio of 2.38 and a beta of 0.76. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25.

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

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend was Wednesday, December 17th. Eversource Energy’s dividend payout ratio is 82.47%.

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.