Bangor Savings Bank Grows Position in Eversource Energy (NYSE:ES)

Bangor Savings Bank raised its position in Eversource Energy (NYSE:ES) by 41.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 853 shares of the utilities provider’s stock after purchasing an additional 249 shares during the period. Bangor Savings Bank’s holdings in Eversource Energy were worth $49,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Eversource Energy in the 3rd quarter valued at $31,000. Ashton Thomas Securities LLC purchased a new position in Eversource Energy during the 3rd quarter worth $32,000. UMB Bank n.a. increased 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 valued at $35,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC raised its holdings in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after buying an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Eversource Energy during the third quarter worth about $48,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on ES shares. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Barclays lifted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price objective for the company. Finally, BMO Capital Markets lowered their target price 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. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $68.38.

Eversource Energy Stock Performance

ES opened at $56.13 on Wednesday. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The stock has a market cap of $20.57 billion, a P/E ratio of -35.75, a P/E/G ratio of 2.38 and a beta of 0.62. The stock’s 50 day simple moving average is $60.43 and its 200 day simple moving average is $62.97. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping 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 company 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 business earned $0.97 earnings per share. Eversource Energy’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.715 per share. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.10%. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

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.