First Citizens Bank & Trust Co. lifted its position in shares of Eversource Energy (NYSE:ES) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,876 shares of the utilities provider’s stock after acquiring an additional 216 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Eversource Energy were worth $382,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Paradigm Asset Management Co. LLC acquired a new stake in shares of Eversource Energy during the third quarter worth $58,000. Sound Income Strategies LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth $75,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Eversource Energy during the fourth quarter worth $77,000. Chicago Partners Investment Group LLC acquired a new stake in shares of Eversource Energy during the third quarter worth $117,000. Finally, O Brien Wealth Partners LLC grew its stake in shares of Eversource Energy by 175.3% during the third quarter. O Brien Wealth Partners LLC now owns 1,963 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 1,250 shares during the period. Institutional investors own 73.52% of the company’s stock.
A number of research firms have issued reports on ES. ValuEngine raised Eversource Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Credit Suisse Group raised Eversource Energy from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $62.00 to $73.00 in a research note on Tuesday, December 4th. Scotiabank cut Eversource Energy from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, December 12th. Citigroup boosted their target price on Eversource Energy from $59.00 to $63.00 and gave the company a “hold” rating in a research note on Tuesday, September 25th. Finally, Morgan Stanley decreased their target price on Eversource Energy from $67.00 to $65.00 and set a “hold” rating for the company in a research note on Friday, September 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $66.91.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.93 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.03. The company had revenue of $2.27 billion for the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a return on equity of 9.32% and a net margin of 12.51%. The company’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 earnings per share. Analysts predict that Eversource Energy will post 3.27 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Tuesday, December 18th were issued a $0.505 dividend. The ex-dividend date of this dividend was Monday, December 17th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.00%. Eversource Energy’s dividend payout ratio (DPR) is 64.95%.
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Eversource Energy Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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