Alps Advisors Inc. Purchases 15,746 Shares of Eversource Energy $ES

Key Points

• Alps Advisors increased its Eversource Energy stake by 3.6% in the third quarter, buying 15,746 shares. It held 457,066 shares valued at about $29.3 million.
• Eversource reported quarterly EPS of $0.92, beating estimates by $0.02, but revenue of $2.98 billion missed consensus and fell 7.5% year over year.
• The utility pays an annualized dividend of $3.15 per share, yielding 4.5%; analysts’ consensus rating is Hold, with an average price target of $73.17.

Alps Advisors Inc. boosted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 3.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 457,066 shares of the utilities provider's stock after acquiring an additional 15,746 shares during the period. Alps Advisors Inc. owned 0.12% of Eversource Energy worth $29,325,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of ES. BlackRock Inc. purchased a new stake in shares of Eversource Energy during the 2nd quarter worth approximately $3,086,413,000. Legal & General Group Plc bought a new stake in shares of Eversource Energy in the second quarter valued at about $359,215,000. Deutsche Bank AG purchased a new stake in shares of Eversource Energy in the 2nd quarter valued at $311,548,000. Hsbc Holdings PLC acquired a new stake in shares of Eversource Energy in the second quarter valued at about $272,105,000. Finally, Magellan Asset Management Ltd purchased a new stake in Eversource Energy during the second quarter worth about $248,397,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Trading Down 2.9%

Shares of NYSE ES opened at $69.86 on Friday. The company has a 50-day moving average of $67.35 and a two-hundred day moving average of $70.03. Eversource Energy has a 1-year low of $62.72 and a 1-year high of $76.57. The company has a market cap of $26.31 billion, a PE ratio of 18.43, a P/E/G ratio of 3.03 and a beta of 0.66. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.20 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The firm's quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the company posted $1.19 EPS. As a group, equities analysts expect that Eversource Energy will post 4.63 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Monday, September 21st. Eversource Energy's dividend payout ratio (DPR) is presently 81.61%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. JPMorgan Chase & Co. reduced their price objective on Eversource Energy from $73.00 to $68.00 and set an "underweight" rating on the stock in a research note on Monday, October 19th. Mizuho raised their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. BMO Capital Markets dropped their target price on Eversource Energy from $73.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. HSBC began coverage on shares of Eversource Energy in a report on Thursday, October 22nd. They set a "hold" rating and a $70.00 target price for the company. Finally, Weiss Ratings raised Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Eversource Energy presently has a consensus rating of "Hold" and an average target price of $73.17.

Eversource Energy Profile

Eversource Energy NYSE: ES is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.

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