Swedbank AB Boosts Position in Eversource Energy (NYSE:ES)

Swedbank AB boosted its holdings in shares of Eversource Energy (NYSE:ES) by 2.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 524,379 shares of the utilities provider’s stock after buying an additional 11,111 shares during the quarter. Swedbank AB’s holdings in Eversource Energy were worth $35,684,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Creative Planning increased its holdings in shares of Eversource Energy by 6.7% during the 3rd quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock valued at $5,863,000 after purchasing an additional 5,417 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in shares of Eversource Energy during the 3rd quarter valued at approximately $100,000. Woodstock Corp purchased a new position in shares of Eversource Energy during the 3rd quarter valued at approximately $203,000. Redhawk Wealth Advisors Inc. purchased a new position in shares of Eversource Energy during the 3rd quarter valued at approximately $228,000. Finally, Viking Fund Management LLC purchased a new position in shares of Eversource Energy during the 3rd quarter valued at approximately $272,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now 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. Insiders own 0.41% of the company’s stock.

Eversource Energy Trading Up 0.5 %

Shares of ES opened at $65.75 on Thursday. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average is $66.42 and its two-hundred day moving average is $62.18. The stock has a market cap of $23.16 billion, a PE ratio of -55.72, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES) last announced 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 negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts forecast that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 4.35%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ES shares. Mizuho lifted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 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. BMO Capital Markets dropped their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, 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 note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.07.

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.