Pinnacle Associates Ltd. Boosts Position in Eversource Energy (NYSE:ES)

Pinnacle Associates Ltd. boosted its position in shares of Eversource Energy (NYSE:ES) by 0.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,839 shares of the utilities provider’s stock after purchasing an additional 369 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Eversource Energy were worth $3,392,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ES. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after acquiring an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Eversource Energy by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after acquiring an additional 20,207 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after acquiring an additional 354,429 shares during the last quarter. ClearBridge Investments Ltd acquired a new position in shares of Eversource Energy in the first quarter worth $156,093,000. Finally, Zimmer Partners LP raised its holdings in shares of Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

Shares of NYSE ES opened at $65.84 on Friday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The business has a 50-day moving average of $66.48 and a 200-day moving average of $62.68. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The company has a market capitalization 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 (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the business posted $1.00 earnings per share. Eversource Energy’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, equities analysts anticipate that Eversource Energy will post 4.57 EPS for the current fiscal 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 paid 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 4.34%. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 9,032 shares in the company, valued at $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred 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 directly 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. 0.29% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ES. Wells Fargo & Company upped their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets dropped their target price on 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. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.