Lake Street Advisors Group LLC Lowers Position in Eversource Energy (NYSE:ES)

Lake Street Advisors Group LLC lowered its stake in shares of Eversource Energy (NYSE:ES) by 9.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,870 shares of the utilities provider’s stock after selling 531 shares during the period. Lake Street Advisors Group LLC’s holdings in Eversource Energy were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ES. Lynx Investment Advisory acquired a new position in Eversource Energy in the second quarter valued at $25,000. UMB Bank n.a. increased its position in Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares in the last quarter. Manchester Capital Management LLC raised its holdings in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after buying an additional 276 shares during the period. Salomon & Ludwin LLC grew its stake in Eversource Energy by 4,187.5% during the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock worth $41,000 after buying an additional 670 shares during the period. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Eversource Energy in the first quarter worth $43,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 transaction of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the 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 sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 directly 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 disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of research reports. Morgan Stanley upped their price target 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. Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. BMO Capital Markets reduced their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Finally, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Performance

Shares of ES stock opened at $65.84 on Friday. The stock has a market capitalization of $23.53 billion, a price-to-earnings ratio of -243.85, a PEG ratio of 2.58 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 company’s 50-day simple moving average is $66.55 and its 200-day simple moving average is $62.51. 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 earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the business posted $1.00 EPS. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. Equities analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid 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 4.34%. Eversource Energy’s payout ratio is -1,059.26%.

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.