Headlands Technologies LLC Increases Stock Position in Eversource Energy (NYSE:ES)

Headlands Technologies LLC grew its stake in shares of Eversource Energy (NYSE:ES) by 270.7% during the second quarter, HoldingsChannel.com reports. The fund owned 4,837 shares of the utilities provider’s stock after buying an additional 3,532 shares during the quarter. Headlands Technologies LLC’s holdings in Eversource Energy were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Eversource Energy by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares during the period. Magellan Asset Management Ltd lifted its stake in shares of Eversource Energy by 5.4% in the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock worth $189,301,000 after purchasing an additional 156,534 shares during the period. ClearBridge Investments Ltd bought a new position in shares of Eversource Energy in the 1st quarter worth approximately $156,093,000. Finally, Zimmer Partners LP lifted its stake in shares of Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.7 %

Eversource Energy stock opened at $67.97 on Friday. The firm’s 50 day moving average price is $64.73 and its 200-day moving average price is $61.01. 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. The stock has a market cap of $24.29 billion, a P/E ratio of -57.60, a PEG ratio of 2.59 and a beta of 0.61.

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 analysts’ consensus estimates of $0.95. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, equities analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.21%. Eversource Energy’s payout ratio is -242.37%.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of the company’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 sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the business’s 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 transaction, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the business’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. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Bank of America raised their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets decreased their target price on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, August 19th. Morgan Stanley raised their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Barclays raised their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.