Nomura Asset Management Co. Ltd. Trims Stake in Eversource Energy (NYSE:ES)

Nomura Asset Management Co. Ltd. reduced its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 39.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,376 shares of the utilities provider's stock after selling 150,487 shares during the quarter. Nomura Asset Management Co. Ltd. owned approximately 0.06% of Eversource Energy worth $15,473,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the 3rd quarter worth $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Eversource Energy in the third quarter valued at about $32,000. UMB Bank n.a. lifted its stake in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider's stock worth $35,000 after acquiring an additional 198 shares during the period. Larson Financial Group LLC grew its holdings in Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider's stock worth $38,000 after acquiring an additional 350 shares in the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in Eversource Energy during the 3rd quarter valued at about $48,000. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ES. Morgan Stanley boosted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research note on Friday, August 23rd. Mizuho upped their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Barclays boosted their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an "equal weight" rating in a report on Tuesday, October 15th. Finally, BMO Capital Markets lowered their price target on shares of Eversource Energy from $74.00 to $72.00 and set a "market perform" rating on the stock in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $69.15.

Eversource Energy Stock Performance

Shares of ES traded down $0.54 during trading hours on Wednesday, reaching $60.00. 1,987,892 shares of the company traded hands, compared to its average volume of 2,370,695. The stock has a market capitalization of $21.98 billion, a P/E ratio of -38.56, a P/E/G ratio of 2.39 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The business has a fifty day moving average price of $63.54 and a 200-day moving average price of $63.10. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The company's revenue was up 9.7% on a year-over-year basis. Equities analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Wednesday, December 18th. Eversource Energy's dividend payout ratio (DPR) is currently -182.17%.

Eversource Energy 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.