BNP Paribas Financial Markets Lowers Stake in Eversource Energy (NYSE:ES)

BNP Paribas Financial Markets decreased its holdings in Eversource Energy (NYSE:ES) by 33.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 598,103 shares of the utilities provider’s stock after selling 304,414 shares during the quarter. BNP Paribas Financial Markets owned 0.16% of Eversource Energy worth $40,701,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ES. Lynx Investment Advisory purchased a new stake in shares of Eversource Energy during the second quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Eversource Energy in the 3rd quarter worth about $31,000. Ashton Thomas Securities LLC purchased a new stake in Eversource Energy during the 3rd quarter worth approximately $32,000. UMB Bank n.a. raised its holdings in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock opened at $64.59 on Friday. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The business has a fifty day moving average of $64.39 and a two-hundred day moving average of $62.98. The stock has a market cap of $23.67 billion, a price-to-earnings ratio of -41.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. 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 issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.97 EPS. As a group, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.43%. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Morgan Stanley increased their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Scotiabank boosted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets cut their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Finally, Mizuho boosted their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.46.

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.