Machina Capital S.A.S. Purchases New Position in Eversource Energy $ES

Machina Capital S.A.S. purchased a new stake in shares of Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,222 shares of the utilities provider’s stock, valued at approximately $1,169,000.

A number of other hedge funds also recently added to or reduced their stakes in ES. Elevation Wealth Partners LLC lifted its position in Eversource Energy by 220.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 240 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Eversource Energy during the 2nd quarter valued at $26,000. First Bancorp Inc ME bought a new stake in shares of Eversource Energy in the 2nd quarter worth $30,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Eversource Energy in the second quarter worth $36,000. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Eversource Energy in the third quarter worth $46,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ES has been the topic of several recent analyst reports. Citigroup initiated coverage on Eversource Energy in a research report on Monday, July 27th. They set a “hold” rating and a $81.00 price objective on the stock. JPMorgan Chase & Co. decreased their target price on Eversource Energy from $73.00 to $68.00 and set an “underweight” rating for the company in a research report on Monday, October 19th. Mizuho boosted their target price on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. BMO Capital Markets lowered their target price on shares of 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, Barclays began coverage on shares of Eversource Energy in a report on Friday, November 6th. They set an “equal weight” rating and a $76.00 price target on the stock. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.17.

Eversource Energy Price Performance

Shares of ES opened at $71.12 on Friday. The firm has a market cap of $26.82 billion, a PE ratio of 18.77, a P/E/G ratio of 3.07 and a beta of 0.66. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.58. The firm has a fifty day simple moving average of $67.33 and a two-hundred day simple moving average of $70.02. Eversource Energy has a 1-year low of $62.72 and a 1-year high of $76.57.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Eversource Energy had a return on equity of 10.67% and a net margin of 10.38%. The company’s revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. On average, equities analysts anticipate that Eversource Energy will post 4.64 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders 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 yield of 4.4%. Eversource Energy’s dividend payout ratio is currently 83.11%.

About Eversource Energy

Eversource Energy is a public utility holding company that delivers electricity and natural gas to customers in New England. Its businesses include electric transmission and distribution, natural gas distribution, and related energy services. The company serves customers in Connecticut, Massachusetts, and New Hampshire through local utility subsidiaries. Its operations include maintaining and upgrading the networks used to deliver energy to homes and businesses. Eversource traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015 after combining with NSTAR.