Thrive Wealth Management LLC Makes New Investment in Eversource Energy (NYSE:ES)

Thrive Wealth Management LLC acquired a new position in shares of Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,044 shares of the utilities provider’s stock, valued at approximately $207,000.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Eversource Energy by 24.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock worth $4,232,000 after acquiring an additional 13,950 shares during the last quarter. Banque Cantonale Vaudoise raised its holdings in shares of Eversource Energy by 38.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock worth $3,394,000 after purchasing an additional 15,714 shares during the period. Great Oak Capital Partners LLC bought a new position in Eversource Energy during the fourth quarter valued at $1,047,000. Cibc World Markets Corp grew its stake in shares of Eversource Energy by 133.3% during the 4th quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock worth $2,775,000 after acquiring an additional 25,688 shares during the period. Finally, Ethic Inc. raised its stake in Eversource Energy by 23.1% in the 4th quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock valued at $10,167,000 after acquiring an additional 30,890 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Down 0.8 %

ES stock traded down $0.51 during midday trading on Friday, hitting $65.38. The company had a trading volume of 1,593,769 shares, compared to its average volume of 2,446,338. The company has a current ratio of 0.75, a quick ratio of 0.66 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 stock has a market cap of $23.03 billion, a price-to-earnings ratio of -55.41, a PEG ratio of 2.54 and a beta of 0.61. The stock’s 50 day moving average price is $66.63 and its 200 day moving average price is $61.83.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS 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 company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the business posted $1.00 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts expect that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

Insider Buying and Selling at Eversource Energy

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

Analysts Set New Price Targets

A number of analysts recently commented on the stock. BMO Capital Markets upped their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Thursday. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Scotiabank boosted their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Mizuho boosted their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $70.00.

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.