Amalgamated Bank Decreases Position in Eversource Energy (NYSE:ES)

Amalgamated Bank reduced its position in Eversource Energy (NYSE:ES) by 2.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 69,900 shares of the utilities provider’s stock after selling 1,472 shares during the period. Amalgamated Bank’s holdings in Eversource Energy were worth $4,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lynx Investment Advisory acquired a new stake in shares of Eversource Energy during the second quarter worth about $25,000. UMB Bank n.a. lifted its position in Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 198 shares during the period. Manchester Capital Management LLC lifted its position in Eversource Energy by 83.6% during the 1st quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 276 shares during the period. Pathway Financial Advisers LLC purchased a new position in shares of Eversource Energy in the 1st quarter valued at approximately $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Eversource Energy in the third quarter valued at approximately $48,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.2 %

Eversource Energy stock opened at $60.82 on Friday. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of -38.74, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The stock’s fifty day moving average is $66.14 and its two-hundred day moving average is $62.82. 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 (NYSE:ES) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 11.00%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.97 EPS. Analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.70%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Wall Street Analyst Weigh In

ES has been the topic of a number of analyst reports. Barclays lifted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Bank of America increased 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. Scotiabank lifted their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Morgan Stanley increased their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $70.46.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.29% of the stock is owned by corporate insiders.

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.