Retirement Systems of Alabama Has $27.69 Million Holdings in Eversource Energy (NYSE:ES)

Retirement Systems of Alabama boosted its position in Eversource Energy (NYSE:ES) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 482,202 shares of the utilities provider’s stock after buying an additional 1,924 shares during the quarter. Retirement Systems of Alabama’s holdings in Eversource Energy were worth $27,693,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Eversource Energy in the 3rd quarter valued at $31,000. Ashton Thomas Securities LLC acquired a new position in Eversource Energy in the 3rd quarter valued at $32,000. UMB Bank n.a. grew its stake in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares during the last quarter. Larson Financial Group LLC grew its stake in Eversource Energy by 162.0% in the 3rd 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 position in Eversource Energy in the 3rd quarter valued at $48,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ES has been the topic of a number of research analyst reports. 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 research note on Tuesday, October 15th. Barclays reduced their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Finally, Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price target for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued 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 $67.42.

Eversource Energy Price Performance

NYSE:ES opened at $58.56 on Thursday. The company has a 50-day moving average of $58.33 and a 200-day moving average of $62.81. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of -37.30, a PEG ratio of 2.20 and a beta of 0.62. Eversource Energy has a 52 week low of $52.71 and a 52 week high of $69.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $0.97 EPS. As a group, equities research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 5.14%. The ex-dividend date is Tuesday, March 4th. 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.