Sanctuary Advisors LLC Acquires New Position in Eversource Energy (NYSE:ES)

Sanctuary Advisors LLC bought a new position in shares of Eversource Energy (NYSE:ES) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 16,155 shares of the utilities provider’s stock, valued at approximately $961,000.

Several other large investors have also added to or reduced their stakes in ES. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Eversource Energy by 65.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the period. Public Sector Pension Investment Board raised its holdings in Eversource Energy by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after acquiring an additional 20,207 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after acquiring an additional 354,429 shares in the last quarter. ClearBridge Investments Ltd bought a new position in shares of Eversource Energy in the first quarter worth about $156,093,000. Finally, Zimmer Partners LP raised its position in shares of Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after buying an additional 2,231,585 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ES. Bank of America raised their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Scotiabank raised their price target on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, BMO Capital Markets increased their target price on Eversource Energy from $70.00 to $74.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.00.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, EVP Penelope M. Conner sold 815 shares of the company’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 completion of the sale, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $63.83 on Friday. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The company has a market capitalization of $22.81 billion, a PE ratio of -236.41, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The stock’s fifty day moving average is $66.50 and its two-hundred day moving average is $61.97. 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 (NYSE:ES) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. As a group, analysts expect that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.48%. Eversource Energy’s payout ratio is currently -1,059.26%.

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.