Brown Brothers Harriman & Co. Has $339,000 Position in Eversource Energy (NYSE:ES)

Brown Brothers Harriman & Co. boosted its stake in shares of Eversource Energy (NYSE:ES) by 397.6% during the second quarter, Holdings Channel.com reports. The fund owned 5,981 shares of the utilities provider’s stock after acquiring an additional 4,779 shares during the period. Brown Brothers Harriman & Co.’s holdings in Eversource Energy were worth $339,000 at the end of the most recent reporting period.

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

Eversource Energy Trading Down 1.1 %

NYSE ES opened at $67.47 on Thursday. The firm has a market capitalization of $23.77 billion, a PE ratio of -57.18, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The business’s 50-day moving average price is $65.35 and its two-hundred day moving average price is $61.22. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last announced 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 positive return on equity of 10.34% and a negative net margin of 0.81%. 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 prior year, the business posted $1.00 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. On average, analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.24%. Eversource Energy’s payout ratio is currently -242.37%.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now directly 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 at the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated 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 approximately $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ES shares. Wells Fargo & Company upped their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley upped their price objective on shares of 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 lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Barclays upped their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, Scotiabank raised 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. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $68.93.

About Eversource Energy

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.