Eversource Energy $ES Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC cut its holdings in shares of Eversource Energy (NYSE:ES) by 7.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,616,701 shares of the utilities provider’s stock after selling 207,630 shares during the period. ProShare Advisors LLC’s holdings in Eversource Energy were worth $186,152,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Empowered Funds LLC grew its stake in Eversource Energy by 8.9% during the 1st quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider’s stock worth $1,003,000 after buying an additional 1,319 shares during the last quarter. Woodline Partners LP boosted its holdings in Eversource Energy by 40.8% in the first quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock worth $1,925,000 after acquiring an additional 8,984 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in Eversource Energy by 115.1% in the first quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 801 shares in the last quarter. Blair William & Co. IL grew its stake in shares of Eversource Energy by 0.8% during the second quarter. Blair William & Co. IL now owns 31,791 shares of the utilities provider’s stock worth $2,023,000 after acquiring an additional 255 shares during the last quarter. Finally, Callan Family Office LLC acquired a new position in shares of Eversource Energy during the second quarter valued at about $403,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ES shares. TD Cowen initiated coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 target price on the stock. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. JPMorgan Chase & Co. dropped their price objective on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. UBS Group reduced their target price on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Finally, Wells Fargo & Company cut Eversource Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $79.00 to $63.00 in a research report on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus price target of $71.50.

Eversource Energy Stock Down 0.6%

ES stock opened at $67.30 on Monday. The company has a market capitalization of $25.25 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.30 and a beta of 0.77. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. The firm’s fifty day simple moving average is $68.08 and its 200-day simple moving average is $68.33. 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 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 annualized dividend and a yield of 4.7%. Eversource Energy’s dividend payout ratio is currently 82.47%.

About Eversource Energy

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.