Allworth Financial LP Trims Stock Holdings in Eversource Energy (NYSE:ES)

Allworth Financial LP decreased its holdings in Eversource Energy (NYSE:ES) by 35.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,763 shares of the utilities provider’s stock after selling 4,356 shares during the period. Allworth Financial LP’s holdings in Eversource Energy were worth $528,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its stake in Eversource Energy by 14.7% during the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after acquiring an additional 169 shares in the last quarter. Addison Advisors LLC grew its stake in Eversource Energy by 27.4% during the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 185 shares in the last quarter. Bar Harbor Wealth Management grew its stake in Eversource Energy by 4.1% during the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after acquiring an additional 190 shares in the last quarter. Avantax Advisory Services Inc. grew its stake in Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after acquiring an additional 192 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Down 2.9 %

Shares of ES opened at $64.55 on Wednesday. The firm has a market cap of $23.07 billion, a price-to-earnings ratio of -239.07, a PEG ratio of 2.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01. The firm has a 50 day moving average price of $66.53 and a 200-day moving average price of $62.64.

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, hitting 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 firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the previous year, the business posted $1.00 EPS. The business’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, equities research analysts forecast that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The company 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 of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.43%. Eversource Energy’s dividend payout ratio is currently -1,059.26%.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction 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 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Penelope M. Conner sold 500 shares of the company’s 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 sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley boosted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. BMO Capital Markets cut their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Bank of America boosted their price target on shares of 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 target on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $70.07.

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.