M&G Plc Reduces Stock Position in Eversource Energy (NYSE:ES)

M&G PLC trimmed its position in shares of Eversource Energy (NYSE:ES - Free Report) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,445,892 shares of the utilities provider's stock after selling 180,793 shares during the quarter. M&G PLC owned 0.40% of Eversource Energy worth $98,321,000 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 ES. Massmutual Trust Co. FSB ADV grew its position in shares of Eversource Energy by 14.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider's stock valued at $90,000 after purchasing an additional 169 shares in the last quarter. Addison Advisors LLC increased its stake in Eversource Energy by 27.4% in the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider's stock worth $49,000 after acquiring an additional 185 shares during the last quarter. Bar Harbor Wealth Management raised its holdings in shares of Eversource Energy by 4.1% in the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider's stock valued at $271,000 after acquiring an additional 190 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider's stock valued at $475,000 after acquiring an additional 192 shares during the last quarter. Finally, UMB Bank n.a. grew its holdings in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider's stock worth $35,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Up 0.2 %

ES traded up $0.12 during trading on Thursday, hitting $60.82. 2,812,066 shares of the stock traded hands, compared to its average volume of 2,413,244. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01. The firm has a market capitalization of $21.74 billion, a P/E ratio of -38.74, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The firm has a 50-day moving average of $66.14 and a 200 day moving average of $62.82.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 11.00%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the previous year, the firm earned $0.97 EPS. The company's quarterly revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date was Monday, September 23rd. Eversource Energy's payout ratio is presently -182.17%.

Analysts Set New Price Targets

ES has been the subject of several research analyst reports. Wells Fargo & Company lifted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Mizuho lifted their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. StockNews.com raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Wednesday, October 30th. BMO Capital Markets dropped their price target on Eversource Energy from $74.00 to $72.00 and set a "market perform" rating for the company in a research note on Tuesday, October 15th. Finally, Morgan Stanley upped their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, August 23rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $70.07.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now owns 9,032 shares of the company's stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company's stock, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Eversource Energy Company 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.