Coldstream Capital Management Inc. Raises Stock Position in Eversource Energy (NYSE:ES)

Coldstream Capital Management Inc. lifted its stake in Eversource Energy (NYSE:ES) by 11.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,830 shares of the utilities provider’s stock after buying an additional 899 shares during the period. Coldstream Capital Management Inc.’s holdings in Eversource Energy were worth $598,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its position in shares of Eversource Energy by 1.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,820 shares of the utilities provider’s stock worth $3,052,000 after purchasing an additional 678 shares in the last quarter. ORG Partners LLC acquired a new position in Eversource Energy during the second quarter worth approximately $83,000. Blue Trust Inc. lifted its stake in Eversource Energy by 41.0% in the second quarter. Blue Trust Inc. now owns 998 shares of the utilities provider’s stock valued at $60,000 after buying an additional 290 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Eversource Energy by 9.7% in the second quarter. Brookstone Capital Management now owns 26,825 shares of the utilities provider’s stock valued at $1,651,000 after acquiring an additional 2,379 shares during the period. Finally, Raymond James & Associates grew its position in shares of Eversource Energy by 2.1% during the second quarter. Raymond James & Associates now owns 170,963 shares of the utilities provider’s stock worth $9,695,000 after acquiring an additional 3,475 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on ES shares. Mizuho increased their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $66.00 to $56.00 in a research note on Thursday. Morgan Stanley boosted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Jefferies Financial Group initiated coverage on Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective for the company. Finally, BMO Capital Markets dropped their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Three analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $68.38.

Eversource Energy Stock Performance

Shares of ES opened at $59.53 on Friday. The company has a market capitalization of $21.81 billion, a PE ratio of -37.91, a P/E/G ratio of 2.40 and a beta of 0.60. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The company has a 50-day simple moving average of $63.17 and a 200-day simple moving average of $63.07. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $0.97 EPS. Equities research analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.80%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

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.