Axxcess Wealth Management LLC Acquires New Stake in Eversource Energy (NYSE:ES)

Axxcess Wealth Management LLC acquired a new stake in Eversource Energy (NYSE:ES) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,496 shares of the utilities provider’s stock, valued at approximately $238,000.

Other institutional investors have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in Eversource Energy by 14.7% during the 3rd 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 during the period. Addison Advisors LLC raised its holdings in Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 185 shares during the period. Bar Harbor Wealth Management raised its holdings in Eversource Energy by 4.1% during the 2nd 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 during the period. Avantax Advisory Services Inc. raised its holdings in Eversource Energy by 2.5% during the 1st 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 during the period. Finally, UMB Bank n.a. raised its holdings in Eversource Energy by 62.9% during the 3rd 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 period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Morgan Stanley increased their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays increased their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. Finally, BMO Capital Markets lowered their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $70.46.

Eversource Energy Trading Up 1.0 %

NYSE ES opened at $61.47 on Friday. The stock’s 50-day simple moving average is $65.48 and its two-hundred day simple moving average is $62.84. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of -38.74, a PEG ratio of 2.42 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the business posted $0.97 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Research analysts forecast 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. Stockholders of record on Monday, September 23rd were paid 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 dividend yield of 4.65%. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

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.