Advisor Group Holdings Inc. Cuts Holdings in Eversource Energy (NYSE:ES)

Posted by Defense World Staff on May 29th, 2023

Advisor Group Holdings Inc. cut its holdings in Eversource Energy (NYSE:ES – Get Rating) by 1.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,992 shares of the utilities provider’s stock after selling 1,889 shares during the quarter. Advisor Group Holdings Inc.’s holdings in Eversource Energy were worth $10,312,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. boosted its holdings in Eversource Energy by 64.0% during the second quarter. Goldman Sachs Group Inc. now owns 2,285,636 shares of the utilities provider’s stock worth $193,067,000 after buying an additional 891,641 shares in the last quarter. Vanguard Group Inc. grew its holdings in Eversource Energy by 2.0% in the third quarter. Vanguard Group Inc. now owns 44,413,456 shares of the utilities provider’s stock valued at $3,462,474,000 after purchasing an additional 871,683 shares during the last quarter. Pictet Asset Management SA increased its position in shares of Eversource Energy by 37.2% in the third quarter. Pictet Asset Management SA now owns 3,064,406 shares of the utilities provider’s stock valued at $238,901,000 after buying an additional 830,693 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of Eversource Energy by 22,751.6% during the 4th quarter. International Assets Investment Management LLC now owns 516,446 shares of the utilities provider’s stock worth $2,908,000 after buying an additional 514,186 shares during the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of Eversource Energy by 38.4% in the 2nd quarter. Macquarie Group Ltd. now owns 1,850,220 shares of the utilities provider’s stock worth $113,127,000 after buying an additional 513,393 shares in the last quarter. Institutional investors and hedge funds own 77.37% of the company’s stock.

Eversource Energy Price Performance

ES opened at $68.69 on Monday. Eversource Energy has a 1 year low of $67.93 and a 1 year high of $94.41. The company’s 50 day simple moving average is $76.79 and its 200 day simple moving average is $79.45. The stock has a market capitalization of $23.96 billion, a PE ratio of 16.47, a P/E/G ratio of 2.49 and a beta of 0.46. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.58 and a current ratio of 0.65.

Eversource Energy (NYSE:ES – Get Rating) last announced its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.24 billion. Eversource Energy had a net margin of 11.52% and a return on equity of 9.51%. Eversource Energy’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $1.30 EPS. As a group, sell-side analysts expect that Eversource Energy will post 4.36 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.70 annualized dividend and a yield of 3.93%. Eversource Energy’s dividend payout ratio is presently 64.75%.

Analyst Ratings Changes

ES has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. Wolfe Research cut Eversource Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 21st. StockNews.com initiated coverage on Eversource Energy in a research note on Thursday, May 18th. They set a “hold” rating on the stock. UBS Group cut their target price on shares of Eversource Energy from $81.00 to $75.00 in a research note on Friday. Finally, BMO Capital Markets upped their target price on shares of Eversource Energy from $86.00 to $89.00 and gave the company a “market perform” rating in a report on Friday, April 14th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $86.92.

About Eversource Energy

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.