Great Oak Capital Partners LLC Makes New $980,000 Investment in Eversource Energy (NYSE:ES)

Great Oak Capital Partners LLC purchased a new stake in Eversource Energy (NYSE:ES) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 17,277 shares of the utilities provider’s stock, valued at approximately $980,000. Eversource Energy accounts for about 0.4% of Great Oak Capital Partners LLC’s holdings, making the stock its 21st largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Salem Investment Counselors Inc. boosted its position 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 worth $33,000 after purchasing an additional 181 shares in the last quarter. Addison Advisors LLC raised its stake in Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after buying an additional 185 shares during the last quarter. Bar Harbor Wealth Management raised its stake in Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after buying an additional 190 shares during the last quarter. Avantax Advisory Services Inc. raised its stake in Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after buying an additional 192 shares during the last quarter. Finally, Presima Securities ULC increased its stake in shares of Eversource Energy by 1.5% in the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock worth $847,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES opened at $67.14 on Friday. 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. The company has a 50 day moving average of $65.64 and a two-hundred day moving average of $61.34. The company has a market cap of $23.65 billion, a P/E ratio of -56.90, a P/E/G ratio of 2.59 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. On average, analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays increased their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Bank of America increased their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock 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 note on Tuesday, August 20th. Finally, BMO Capital Markets reduced their price objective on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, August 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $68.93.

Insider Activity at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the firm’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 transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred on 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 directly owns 9,032 shares in the company, valued at approximately $591,596. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by 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.