Stifel Financial Corp Trims Position in Eversource Energy (NYSE:ES)

Stifel Financial Corp lowered its stake in shares of Eversource Energy (NYSE:ES) by 3.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 247,957 shares of the utilities provider’s stock after selling 9,125 shares during the quarter. Stifel Financial Corp owned about 0.07% of Eversource Energy worth $16,874,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group purchased a new position in shares of Eversource Energy in the 3rd quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new position in Eversource Energy in the 3rd quarter valued at $32,000. UMB Bank n.a. increased its stake in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares during the period. Larson Financial Group LLC raised its position in Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Eversource Energy during the 3rd quarter worth $48,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

ES has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Bank of America boosted their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Scotiabank raised their price target on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Barclays upped their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $69.15.

Eversource Energy Stock Performance

NYSE:ES opened at $60.25 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $22.08 billion, a P/E ratio of -38.38, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. The firm has a 50-day moving average price of $63.69 and a two-hundred day moving average price of $63.08. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01.

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

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s payout ratio is currently -182.17%.

Eversource Energy 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.