Redhawk Wealth Advisors Inc. Purchases New Position in Eversource Energy (NYSE:ES)

Redhawk Wealth Advisors Inc. purchased a new stake in shares of Eversource Energy (NYSE:ES) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,344 shares of the utilities provider’s stock, valued at approximately $228,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Viking Fund Management LLC bought a new position in Eversource Energy during the third quarter valued at approximately $272,000. Compagnie Lombard Odier SCmA bought a new position in Eversource Energy during the third quarter valued at approximately $502,000. Exchange Traded Concepts LLC bought a new position in Eversource Energy during the third quarter valued at approximately $114,000. Code Waechter LLC bought a new position in Eversource Energy during the third quarter valued at approximately $1,038,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Eversource Energy by 442.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 5,271 shares of the utilities provider’s stock valued at $359,000 after buying an additional 4,300 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Trading Up 2.2 %

Shares of NYSE ES opened at $65.40 on Wednesday. The business’s 50 day moving average price is $66.41 and its 200-day moving average price is $62.15. The company has a market cap of $23.04 billion, a price-to-earnings ratio of -55.42, a PEG ratio of 2.47 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01. 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 data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate 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 positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.37%. Eversource Energy’s payout ratio is currently -242.37%.

Wall Street Analyst Weigh In

ES has been the subject of several analyst reports. BMO Capital Markets lowered their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday. Wells Fargo & Company raised their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Scotiabank raised their price objective 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. Morgan Stanley raised their price objective 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. Finally, Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $70.07.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was 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 in the company, valued at $591,596. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Eversource Energy news, 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 transaction of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. 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 this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the 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 sale, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. This trade represents a 0.00 % decrease in their position. 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.