Ashton Thomas Private Wealth LLC Buys New Position in Eversource Energy (NYSE:ES)

Ashton Thomas Private Wealth LLC bought a new stake in Eversource Energy (NYSE:ES) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,170 shares of the utilities provider’s stock, valued at approximately $123,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ES. Principal Securities Inc. acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $82,000. QRG Capital Management Inc. raised its position in Eversource Energy by 15.3% in the 4th quarter. QRG Capital Management Inc. now owns 11,796 shares of the utilities provider’s stock valued at $728,000 after buying an additional 1,564 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Eversource Energy by 11.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 372,229 shares of the utilities provider’s stock valued at $23,931,000 after buying an additional 38,786 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in Eversource Energy by 8.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 104,828 shares of the utilities provider’s stock valued at $6,470,000 after purchasing an additional 7,953 shares in the last quarter. Finally, Inceptionr LLC bought a new position in Eversource Energy in the fourth quarter valued at approximately $277,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

ES opened at $67.97 on Friday. The business has a fifty day simple moving average of $64.73 and a 200 day simple moving average of $61.01. The company has a market capitalization of $24.29 billion, a PE ratio of -57.60, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. 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 (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.00 EPS. Research analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.21%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 value of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

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

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.