Bessemer Group Inc. Cuts Holdings in Eversource Energy $ES

Bessemer Group Inc. trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,995 shares of the utilities provider’s stock after selling 976 shares during the period. Bessemer Group Inc.’s holdings in Eversource Energy were worth $382,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Eversource Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock valued at $2,792,559,000 after purchasing an additional 351,780 shares during the last quarter. Wellington Management Group LLP boosted its stake in Eversource Energy by 4.5% during the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after purchasing an additional 739,448 shares during the last quarter. Magellan Asset Management Ltd boosted its stake in Eversource Energy by 6.2% during the 1st quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock valued at $427,090,000 after purchasing an additional 401,866 shares during the last quarter. Invesco Ltd. boosted its stake in Eversource Energy by 0.5% during the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock valued at $374,920,000 after purchasing an additional 32,304 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Eversource Energy by 3.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock worth $354,177,000 after buying an additional 185,146 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday. Mizuho raised their price target on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. TD Cowen assumed coverage on Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target on the stock. Wells Fargo & Company assumed coverage on Eversource Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price target on the stock. Finally, Jefferies Financial Group raised their price target on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $70.56.

Insider Buying and Selling

In related news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Eversource Energy Price Performance

NYSE:ES opened at $73.89 on Monday. The stock has a market cap of $27.42 billion, a PE ratio of 31.71, a P/E/G ratio of 2.65 and a beta of 0.69. The business’s 50-day simple moving average is $68.92 and its two-hundred day simple moving average is $65.55. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 earnings per share. As a group, analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.1%. Eversource Energy’s dividend payout ratio (DPR) is currently 129.18%.

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.