Brookstone Capital Management Decreases Holdings in Eversource Energy (NYSE:ES)

Brookstone Capital Management reduced its position in Eversource Energy (NYSE:ES) by 22.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,826 shares of the utilities provider’s stock after selling 5,999 shares during the period. Brookstone Capital Management’s holdings in Eversource Energy were worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 valued at $4,232,000 after purchasing an additional 13,950 shares during the period. Banque Cantonale Vaudoise grew its position in Eversource Energy by 38.3% during the first quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock valued at $3,394,000 after buying an additional 15,714 shares during the period. Great Oak Capital Partners LLC purchased a new stake in Eversource Energy during the fourth quarter valued at approximately $1,047,000. Los Angeles Capital Management LLC raised its position in Eversource Energy by 76.9% in the first quarter. Los Angeles Capital Management LLC now owns 323,402 shares of the utilities provider’s stock worth $19,330,000 after acquiring an additional 140,558 shares during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Eversource Energy by 6.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock worth $38,631,000 after acquiring an additional 37,219 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets raised their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Finally, Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average price target of $70.00.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the business’s 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 transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $63.83 on Friday. The company has a market cap of $22.81 billion, a P/E ratio of -236.41, a P/E/G ratio of 2.47 and a beta of 0.61. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The firm’s fifty day moving average is $66.50 and its two-hundred day moving average is $61.97.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. As a group, analysts anticipate that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

About Eversource Energy

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.