30,332 Eversource Energy $ES Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lowered its stake in shares of Eversource Energy (NYSE:ES) by 8.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,893 shares of the utilities provider’s stock after selling 30,332 shares during the quarter. Maryland State Retirement & Pension System owned about 0.09% of Eversource Energy worth $22,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC lifted its position in shares of Eversource Energy by 220.2% during the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after buying an additional 240 shares during the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in shares of Eversource Energy in the 2nd quarter valued at about $26,000. First Bancorp Inc ME purchased a new position in shares of Eversource Energy in the 2nd quarter worth approximately $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Eversource Energy in the 2nd quarter worth approximately $36,000. Finally, Mowery & Schoenfeld Wealth Management LLC bought a new position in shares of Eversource Energy during the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Citigroup began coverage on shares of Eversource Energy in a research report on Monday, July 27th. They set a “hold” rating and a $81.00 target price for the company. Mizuho lifted their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Barclays started coverage on shares of Eversource Energy in a report on Friday, November 6th. They issued an “equal weight” rating and a $76.00 price target on the stock. Weiss Ratings downgraded Eversource Energy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday. Finally, BMO Capital Markets decreased their price objective on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Four 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 company’s stock. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $73.17.

Eversource Energy Price Performance

Shares of ES stock opened at $70.55 on Thursday. Eversource Energy has a fifty-two week low of $62.72 and a fifty-two week high of $76.57. The firm has a market capitalization of $26.60 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 3.03 and a beta of 0.66. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.74 and a current ratio of 0.76. The stock’s 50-day simple moving average is $67.31 and its 200-day simple moving average is $70.02.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.20 billion. Eversource Energy had a net margin of 10.38% and a return on equity of 10.67%. Eversource Energy’s revenue was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $1.19 EPS. As a group, equities analysts forecast that Eversource Energy will post 4.63 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a dividend of $0.7875 per share. The ex-dividend date was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. Eversource Energy’s dividend payout ratio is presently 83.11%.

About Eversource Energy

Eversource Energy is a public utility holding company that delivers electricity and natural gas to customers in New England. Its businesses include electric transmission and distribution, natural gas distribution, and related energy services. The company serves customers in Connecticut, Massachusetts, and New Hampshire through local utility subsidiaries. Its operations include maintaining and upgrading the networks used to deliver energy to homes and businesses. Eversource traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015 after combining with NSTAR.