Thrivent Financial for Lutherans Sells 11,976 Shares of Eversource Energy $ES

Thrivent Financial for Lutherans lessened its position in Eversource Energy (NYSE:ES) by 17.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 54,803 shares of the utilities provider’s stock after selling 11,976 shares during the period. Thrivent Financial for Lutherans’ holdings in Eversource Energy were worth $3,898,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Neo Ivy Capital Management bought a new stake in shares of Eversource Energy in the second quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in Eversource Energy in the 3rd quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Eversource Energy in the 3rd quarter worth approximately $27,000. Trust Co. of Toledo NA OH purchased a new position in shares of Eversource Energy during the second quarter valued at approximately $28,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Eversource Energy during the second quarter valued at approximately $31,000. 79.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ES shares. Wells Fargo & Company cut shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $79.00 to $63.00 in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Wednesday, January 28th. UBS Group reduced their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Finally, Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $71.50.

Eversource Energy Trading Down 0.6%

NYSE:ES opened at $67.30 on Friday. The firm has a market capitalization of $25.25 billion, a P/E ratio of 18.44, a PEG ratio of 2.30 and a beta of 0.77. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The company’s 50-day simple moving average is $68.08 and its 200 day simple moving average is $68.32.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Thursday, March 5th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Eversource Energy Company 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.