Nordea Investment Management AB Lowers Position in Eversource Energy $ES

Nordea Investment Management AB trimmed its position in shares of Eversource Energy (NYSE:ES) by 6.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,516,412 shares of the utilities provider’s stock after selling 106,951 shares during the quarter. Nordea Investment Management AB owned 0.41% of Eversource Energy worth $106,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Neo Ivy Capital Management bought a new position in shares of Eversource Energy during the second quarter valued at about $26,000. Trust Co. of Toledo NA OH bought a new stake in Eversource Energy in the 2nd quarter worth about $28,000. Elevation Point Wealth Partners LLC purchased a new stake in Eversource Energy in the 2nd quarter valued at about $31,000. Hilltop National Bank bought a new position in shares of Eversource Energy during the 2nd quarter worth approximately $32,000. Finally, Anchor Investment Management LLC boosted its stake in shares of Eversource Energy by 122.0% in the 2nd quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock worth $35,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price target on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. UBS Group cut their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Finally, Mizuho restated a “neutral” rating and set a $68.00 price objective (down previously from $81.00) on shares of Eversource Energy in a report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $71.27.

Insiders Place Their Bets

In related news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Eversource Energy Trading Down 0.6%

Shares of ES opened at $68.35 on Wednesday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The business has a 50-day moving average of $68.22 and a 200 day moving average of $67.77. The firm has a market cap of $25.64 billion, a P/E ratio of 18.73, a price-to-earnings-growth ratio of 2.33 and a beta of 0.76. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. As a group, research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.7525 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 annualized dividend and a yield of 4.4%. Eversource Energy’s dividend payout ratio (DPR) is 82.47%.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.