Edgestream Partners L.P. Invests $4.59 Million in Eversource Energy (NYSE:ES)

Edgestream Partners L.P. bought a new position in shares of Eversource Energy (NYSE:ES) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 81,007 shares of the utilities provider’s stock, valued at approximately $4,594,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Heritage Wealth Advisors bought a new position in shares of Eversource Energy during the 4th quarter worth approximately $25,000. Lynx Investment Advisory acquired a new stake in Eversource Energy during the 2nd quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in Eversource Energy during the 1st quarter worth approximately $27,000. Versant Capital Management Inc lifted its holdings in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Eversource Energy stock opened at $68.23 on Wednesday. The stock has a market capitalization of $24.03 billion, a P/E ratio of -57.82, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. 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 stock has a fifty day moving average of $65.16 and a 200-day moving average of $61.17.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.00 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be given a $0.715 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.19%. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ES. Bank of America lifted their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Scotiabank lifted their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Barclays lifted their price objective on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $68.93.

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.