Prudential Financial Inc. Has $13.68 Million Position in Eversource Energy $ES

Prudential Financial Inc. lifted its stake in Eversource Energy (NYSE:ES) by 7.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,961 shares of the utilities provider’s stock after acquiring an additional 14,921 shares during the quarter. Prudential Financial Inc. owned approximately 0.06% of Eversource Energy worth $13,676,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Neo Ivy Capital Management purchased a new position in Eversource Energy in the second quarter valued at about $26,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Eversource Energy during the 2nd quarter valued at about $28,000. Hilltop National Bank bought a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $32,000. True Wealth Design LLC increased its holdings in Eversource Energy by 540.0% in the second quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock worth $39,000 after buying an additional 513 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Eversource Energy during the first quarter valued at approximately $46,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

NYSE:ES opened at $66.72 on Friday. The firm has a market capitalization of $25.03 billion, a PE ratio of 18.28, a PEG ratio of 2.92 and a beta of 0.69. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The firm’s fifty day simple moving average is $71.36 and its 200 day simple moving average is $66.95.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the previous year, the business earned $1.13 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s payout ratio is currently 82.47%.

Analyst Upgrades and Downgrades

Several research firms have commented on ES. BMO Capital Markets decreased their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday, November 6th. Wells Fargo & Company lowered shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $79.00 to $63.00 in a research note on Wednesday, November 19th. TD Cowen initiated coverage on shares of Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective for the company. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Finally, Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Eversource Energy has a consensus rating of “Hold” and an average price target of $70.55.

Insiders Place Their Bets

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. The trade was a 11.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

About Eversource Energy

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.