State of Alaska Department of Revenue Buys 3,210 Shares of Eversource Energy (NYSE:ES)

State of Alaska Department of Revenue raised its stake in shares of Eversource Energy (NYSE:ES) by 8.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,514 shares of the utilities provider’s stock after purchasing an additional 3,210 shares during the period. State of Alaska Department of Revenue’s holdings in Eversource Energy were worth $2,825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Lynx Investment Advisory purchased a new stake in Eversource Energy during the 2nd quarter valued at $25,000. UMB Bank n.a. increased its position 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 during the last quarter. Manchester Capital Management LLC raised its stake in shares of Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 276 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of Eversource Energy by 4,187.5% in the 1st quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 670 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Eversource Energy during the 3rd quarter worth about $48,000. 79.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley raised their price objective 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. Barclays raised their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Scotiabank upped their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average price target of $70.07.

Eversource Energy Stock Performance

Shares of ES stock opened at $65.84 on Friday. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of -243.85, a PEG ratio of 2.56 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 quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $66.48 and its 200 day moving average is $62.68.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) 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%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business posted $1.00 EPS. On average, sell-side analysts anticipate that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.34%. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing 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 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 sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the business’s 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

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.