Eversource Energy (NYSE:ES) Shares Sold by abrdn plc

abrdn plc lowered its stake in Eversource Energy (NYSE:ES) by 7.5% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 698,632 shares of the utilities provider’s stock after selling 56,797 shares during the quarter. abrdn plc’s holdings in Eversource Energy were worth $47,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Eversource Energy by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,968 shares of the utilities provider’s stock worth $52,536,000 after acquiring an additional 3,407 shares during the period. Norden Group LLC acquired a new position in shares of Eversource Energy during the first quarter valued at approximately $461,000. First Trust Direct Indexing L.P. raised its holdings in Eversource Energy by 53.4% during the first quarter. First Trust Direct Indexing L.P. now owns 6,955 shares of the utilities provider’s stock worth $416,000 after purchasing an additional 2,420 shares in the last quarter. SpiderRock Advisors LLC acquired a new stake in Eversource Energy in the first quarter worth approximately $264,000. Finally, Van ECK Associates Corp boosted its stake in Eversource Energy by 4.7% during the 1st quarter. Van ECK Associates Corp now owns 82,752 shares of the utilities provider’s stock valued at $4,946,000 after purchasing an additional 3,707 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated 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 $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ES shares. Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley lifted their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report 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 report on Tuesday, October 15th. Bank of America lifted their price objective 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. Finally, Mizuho boosted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $70.07.

Eversource Energy Trading Up 1.5 %

NYSE ES opened at $65.49 on Thursday. The firm’s 50 day moving average price is $66.51 and its two-hundred day moving average price is $62.66. 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 twelve month low of $52.03 and a twelve month high of $69.01. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of -242.56, a PEG ratio of 2.56 and a beta of 0.61.

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

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.37%. Eversource Energy’s payout ratio is presently -1,059.26%.

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.