ProShare Advisors LLC Sells 203,931 Shares of Eversource Energy $ES

ProShare Advisors LLC lessened its stake in Eversource Energy (NYSE:ES) by 8.1% during the third quarter, Holdings Channel reports. The firm owned 2,319,481 shares of the utilities provider’s stock after selling 203,931 shares during the period. ProShare Advisors LLC’s holdings in Eversource Energy were worth $148,818,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its position in Eversource Energy by 220.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after buying an additional 240 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in Eversource Energy in the 2nd quarter worth about $26,000. First Bancorp Inc ME purchased a new position in shares of Eversource Energy in the 2nd quarter worth approximately $30,000. Keating Financial Advisory Services Inc. acquired a new stake in shares of Eversource Energy in the second quarter worth $36,000. Finally, Mowery & Schoenfeld Wealth Management LLC purchased a new stake in shares of Eversource Energy during the second quarter worth about $51,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ES. Citigroup began coverage on Eversource Energy in a research report on Monday, July 27th. They set a “hold” rating and a $81.00 target price on the stock. Weiss Ratings raised Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, August 31st. HSBC initiated coverage on shares of Eversource Energy in a research note on Thursday, October 22nd. They set a “hold” rating and a $70.00 price objective on the stock. BMO Capital Markets cut their price objective on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Mizuho upped their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $72.91.

Eversource Energy Price Performance

ES stock opened at $68.66 on Friday. The firm has a market cap of $25.86 billion, a P/E ratio of 17.79, a P/E/G ratio of 2.98 and a beta of 0.67. The firm’s fifty day moving average is $67.44 and its 200 day moving average is $70.02. Eversource Energy has a 52 week low of $62.72 and a 52 week high of $76.57. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, hitting analysts’ consensus estimates of $0.87. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.99 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Research analysts predict that Eversource Energy will post 4.63 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.7875 dividend. The ex-dividend date of this dividend was Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.6%. Eversource Energy’s dividend payout ratio is currently 81.61%.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.