Massachusetts Financial Services Co. MA Acquires 30,102 Shares of Eversource Energy (NYSE:ES)

Massachusetts Financial Services Co. MA lifted its stake in Eversource Energy (NYSE:ES) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,888,133 shares of the utilities provider’s stock after purchasing an additional 30,102 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Eversource Energy were worth $154,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ raised its position in shares of Eversource Energy by 1.0% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 61,302 shares of the utilities provider’s stock worth $5,012,000 after purchasing an additional 635 shares during the last quarter. Sawtooth Solutions LLC purchased a new position in shares of Eversource Energy in the 3rd quarter worth about $214,000. Geneos Wealth Management Inc. raised its position in shares of Eversource Energy by 4.0% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,685 shares of the utilities provider’s stock worth $301,000 after purchasing an additional 141 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Eversource Energy by 3.1% in the 3rd quarter. CIBC Asset Management Inc now owns 31,966 shares of the utilities provider’s stock worth $2,614,000 after purchasing an additional 959 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Eversource Energy by 4.1% in the 3rd quarter. Barclays PLC now owns 607,258 shares of the utilities provider’s stock worth $49,649,000 after purchasing an additional 24,185 shares during the last quarter. 78.14% of the stock is owned by hedge funds and other institutional investors.

ES has been the subject of a number of recent analyst reports. Mizuho raised Eversource Energy from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $82.00 to $87.00 in a research report on Thursday, October 28th. Morgan Stanley boosted their target price on Eversource Energy from $85.00 to $90.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 21st. Wells Fargo & Company decreased their target price on Eversource Energy from $102.00 to $95.00 and set an “overweight” rating for the company in a research report on Monday, October 4th. Finally, BMO Capital Markets lowered Eversource Energy from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a research report on Monday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.29.

NYSE ES opened at $87.38 on Friday. Eversource Energy has a 52 week low of $76.64 and a 52 week high of $92.66. The firm has a market capitalization of $30.04 billion, a P/E ratio of 25.40, a PEG ratio of 3.49 and a beta of 0.40. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 1.21. The company has a 50-day moving average price of $86.87 and a 200-day moving average price of $86.48.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, November 2nd. The utilities provider reported $1.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by ($0.03). Eversource Energy had a net margin of 12.30% and a return on equity of 9.23%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.57 billion. During the same period in the previous year, the company earned $1.01 EPS. As a group, equities research analysts anticipate that Eversource Energy will post 3.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Stockholders of record on Friday, December 17th were given a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Thursday, December 16th. Eversource Energy’s payout ratio is currently 70.06%.

Eversource Energy Company Profile

Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Water Distribution and Natural Gas Distribution. The Electric Distribution segment distributes electricity to retail customers.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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