Eversource Energy (NYSE:ES) Shares Acquired by Eastern Bank

Eastern Bank boosted its holdings in Eversource Energy (NYSE:ES) by 137.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,266 shares of the utilities provider’s stock after acquiring an additional 7,682 shares during the period. Eastern Bank’s holdings in Eversource Energy were worth $903,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its position in Eversource Energy by 1.8% in the third quarter. Signaturefd LLC now owns 11,930 shares of the utilities provider’s stock valued at $812,000 after buying an additional 206 shares during the last quarter. Border to Coast Pensions Partnership Ltd raised its stake in shares of Eversource Energy by 4.5% in the 3rd quarter. Border to Coast Pensions Partnership Ltd now owns 270,834 shares of the utilities provider’s stock valued at $18,376,000 after acquiring an additional 11,554 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Eversource Energy by 0.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 110,739 shares of the utilities provider’s stock worth $7,536,000 after acquiring an additional 512 shares during the last quarter. Means Investment CO. Inc. purchased a new position in shares of Eversource Energy during the 3rd quarter worth approximately $203,000. Finally, Resonant Capital Advisors LLC acquired a new stake in Eversource Energy in the 3rd quarter valued at approximately $207,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on 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 directly owns 9,847 shares in the company, valued at $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the subject of several research analyst reports. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America raised their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Mizuho boosted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Scotiabank raised their price objective 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, Morgan Stanley upped their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Performance

Shares of ES stock opened at $67.09 on Thursday. The company has a market cap of $23.63 billion, a P/E ratio of -56.86, a PEG ratio of 2.49 and a beta of 0.61. The firm has a fifty day moving average price of $66.49 and a 200 day moving average price of $62.43. 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 12 month low of $52.03 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last released its quarterly earnings data 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 business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the firm posted $1.00 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is -242.37%.

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.