Eversource Energy (NYSE:ES) Shares Bought by Forsta AP Fonden

Forsta AP Fonden raised its position in Eversource Energy (NYSE:ES) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 94,600 shares of the utilities provider’s stock after buying an additional 1,400 shares during the period. Forsta AP Fonden’s holdings in Eversource Energy were worth $6,438,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Lynx Investment Advisory purchased a new position in Eversource Energy in the 2nd quarter worth approximately $25,000. UMB Bank n.a. lifted its stake in Eversource Energy by 62.9% in 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 lifted its stake in Eversource Energy by 83.6% in the 1st quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 276 shares in the last quarter. Salomon & Ludwin LLC lifted its stake in Eversource Energy by 4,187.5% in the 1st quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 670 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in Eversource Energy in the 1st quarter worth approximately $43,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in 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. Morgan Stanley lifted their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Scotiabank lifted their price target 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. Finally, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Performance

NYSE:ES opened at $66.49 on Tuesday. The company has a fifty day simple moving average of $66.56 and a two-hundred day simple moving average of $62.60. The company has a market cap of $23.76 billion, a price-to-earnings ratio of -246.26, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES) last announced 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 firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $1.00 earnings per share. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.30%. Eversource Energy’s payout ratio is currently -1,059.26%.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 that occurred 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 of the company’s stock, valued at $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred 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 approximately $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% 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.