Strs Ohio Reduces Position in Eversource Energy $ES

Strs Ohio decreased its position in shares of Eversource Energy (NYSE:ES) by 75.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,785 shares of the utilities provider’s stock after selling 27,197 shares during the period. Strs Ohio’s holdings in Eversource Energy were worth $625,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ES. Neo Ivy Capital Management purchased a new position in shares of Eversource Energy during the second quarter worth approximately $26,000. Root Financial Partners LLC acquired a new stake in Eversource Energy during the 3rd quarter worth $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Eversource Energy during the 3rd quarter worth $27,000. Trust Co. of Toledo NA OH acquired a new position in Eversource Energy in the second quarter valued at $28,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of Eversource Energy in the second quarter valued at about $31,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Shares of ES opened at $68.88 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The stock’s 50 day moving average is $67.84 and its two-hundred day moving average is $68.18. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The firm has a market capitalization of $25.84 billion, a PE ratio of 18.87, a P/E/G ratio of 2.37 and a beta of 0.76.

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

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th will be given a $0.7875 dividend. The ex-dividend date is Thursday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 annualized dividend and a yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Insider Buying and Selling

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the sale, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Mizuho reiterated a “neutral” rating and issued a $68.00 target price (down from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Janney Montgomery Scott raised 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. Finally, Wells Fargo & Company downgraded Eversource Energy from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $79.00 to $63.00 in a report on Wednesday, November 19th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $71.50.

About Eversource Energy

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.