Code Waechter LLC Takes Position in Eversource Energy (NYSE:ES)

Code Waechter LLC bought a new position in shares of Eversource Energy (NYSE:ES) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,251 shares of the utilities provider’s stock, valued at approximately $1,038,000. Eversource Energy makes up about 1.0% of Code Waechter LLC’s holdings, making the stock its 24th biggest holding.

A number of other large investors have also recently added to or reduced their stakes in ES. Lynx Investment Advisory purchased a new position in Eversource Energy in the second quarter worth $25,000. Rise Advisors LLC acquired a new position in Eversource Energy during the 1st quarter worth $27,000. Versant Capital Management Inc grew its holdings in Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 201 shares during the period. Salem Investment Counselors Inc. raised its holdings in shares of Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares during the period. Finally, UMB Bank n.a. grew its position in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Trading Down 0.1 %

NYSE:ES traded down $0.04 during trading hours on Friday, reaching $63.82. 1,718,128 shares of the company were exchanged, compared to its average volume of 2,428,826. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The stock has a 50 day simple moving average of $66.43 and a 200 day simple moving average of $62.02. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of -236.41, a PEG ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its 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 firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the company earned $1.00 EPS. Eversource Energy’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, analysts predict that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.48%. Eversource Energy’s dividend payout ratio is -1,059.26%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ES shares. Mizuho lifted their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Bank of America raised their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $70.00.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction 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 owns 9,847 shares of the company’s stock, valued at $639,464.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

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.