Eversource Energy (NYSE:ES) Shares Sold by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lessened its position in Eversource Energy (NYSE:ES) by 0.7% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 31,851 shares of the utilities provider’s stock after selling 213 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Eversource Energy were worth $1,806,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Heritage Wealth Advisors purchased a new position in shares of Eversource Energy during the 4th quarter worth $25,000. Lynx Investment Advisory purchased a new position in Eversource Energy during the second quarter worth about $25,000. Rise Advisors LLC acquired a new stake in Eversource Energy in the 1st quarter worth about $27,000. Versant Capital Management Inc grew its holdings in 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 buying an additional 201 shares during the period. Finally, Salem Investment Counselors Inc. increased its stake in shares of Eversource Energy by 49.7% during the 1st 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 last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ES shares. 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 report on Monday, August 19th. Barclays lifted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Morgan Stanley upped their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.93.

Eversource Energy Stock Performance

Eversource Energy stock opened at $67.20 on Friday. The firm has a market capitalization of $23.67 billion, a PE ratio of -56.95, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Eversource Energy has a one year low of $52.03 and a one year high of $69.01. The stock’s 50 day moving average price is $65.50 and its 200 day moving average price is $61.26. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the business earned $1.00 EPS. The business’s revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Monday, September 23rd. Eversource Energy’s payout ratio is -242.37%.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated 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 of the company’s stock, valued at $591,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated 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 sale, 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. 0.41% of the stock is currently owned by company insiders.

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.