Parametric Portfolio Associates LLC Increases Position in Eversource Energy (NYSE:ES)

Parametric Portfolio Associates LLC lifted its position in shares of Eversource Energy (NYSE:ES) by 2.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,238,149 shares of the utilities provider’s stock after buying an additional 33,354 shares during the period. Parametric Portfolio Associates LLC owned 0.38% of Eversource Energy worth $93,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Geode Capital Management LLC increased its position in Eversource Energy by 9.0% during the fourth quarter. Geode Capital Management LLC now owns 4,180,918 shares of the utilities provider’s stock worth $271,461,000 after purchasing an additional 344,769 shares during the last quarter. HL Financial Services LLC acquired a new stake in shares of Eversource Energy in the first quarter worth $204,000. Nissay Asset Management Corp Japan ADV increased its position in shares of Eversource Energy by 4.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 25,985 shares of the utilities provider’s stock worth $1,844,000 after acquiring an additional 1,148 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Eversource Energy by 2.3% in the first quarter. Cetera Advisors LLC now owns 7,576 shares of the utilities provider’s stock worth $537,000 after acquiring an additional 172 shares in the last quarter. Finally, Cetera Advisor Networks LLC increased its position in shares of Eversource Energy by 22.6% in the first quarter. Cetera Advisor Networks LLC now owns 7,469 shares of the utilities provider’s stock worth $530,000 after acquiring an additional 1,375 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have recently issued reports on ES shares. KeyCorp began coverage on shares of Eversource Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 price objective for the company. Barclays increased their price objective on shares of Eversource Energy from $71.00 to $79.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 18th. Morgan Stanley reduced their price target on shares of Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday, August 16th. Wells Fargo & Co raised their price target on shares of Eversource Energy from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Bank of America set a $78.00 price target on shares of Eversource Energy and gave the stock a “sell” rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $78.17.

Shares of ES stock traded down $0.48 during trading hours on Friday, reaching $82.38. The stock had a trading volume of 64,873 shares, compared to its average volume of 1,540,110. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.56. Eversource Energy has a twelve month low of $60.15 and a twelve month high of $83.22. The firm has a 50-day simple moving average of $78.90 and a 200-day simple moving average of $74.59. The firm has a market capitalization of $26.49 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 4.23 and a beta of 0.20.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Eversource Energy had a net margin of 10.00% and a return on equity of 9.24%. The business had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company earned $0.76 EPS. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. On average, equities analysts anticipate that Eversource Energy will post 3.43 earnings per share for the current year.

The firm also recently disclosed a — dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 20th will be paid a $0.535 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a dividend yield of 2.6%. Eversource Energy’s dividend payout ratio is currently 65.24%.

In other news, VP Gregory B. Butler sold 8,298 shares of Eversource Energy stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $77.30, for a total value of $641,435.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Philip J. Lembo sold 1,256 shares of Eversource Energy stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $79.61, for a total transaction of $99,990.16. The disclosure for this sale can be found here. Insiders own 0.37% of the company’s stock.

Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

Further Reading: How Do Mutual Funds Work?

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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