Eversource Energy (NYSE:ES) Shares Acquired by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its position in shares of Eversource Energy (NYSE:ES) by 10.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,049 shares of the utilities provider’s stock after buying an additional 918 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Eversource Energy were worth $684,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ES. ClearBridge Investments Ltd bought a new stake in shares of Eversource Energy in the 1st quarter worth $156,093,000. Zimmer Partners LP raised its position in Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after acquiring an additional 1,524,341 shares in the last quarter. M&G Plc acquired a new stake in Eversource Energy in the 1st quarter valued at about $83,539,000. Finally, BROOKFIELD Corp ON bought a new position in shares of Eversource Energy during the 1st quarter valued at about $65,389,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

ES stock opened at $66.49 on Tuesday. The stock has a market cap of $23.76 billion, a P/E ratio of -246.26, a P/E/G ratio of 2.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The firm has a 50 day simple moving average of $66.56 and a 200 day simple moving average of $62.60. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company posted $1.00 EPS. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. Research analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is currently -1,059.26%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Mizuho boosted their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $70.07.

Eversource Energy 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.