Heritage Financial Services LLC Decreases Position in Eversource Energy (NYSE:ES)

Heritage Financial Services LLC decreased its stake in shares of Eversource Energy (NYSE:ES) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,432 shares of the utilities provider’s stock after selling 1,329 shares during the quarter. Heritage Financial Services LLC’s holdings in Eversource Energy were worth $642,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ES. ClearBridge Investments Ltd purchased a new stake in Eversource Energy during the 1st quarter worth about $156,093,000. Zimmer Partners LP lifted its stake in Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in 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 valued at $227,929,000 after purchasing an additional 1,524,341 shares in the last quarter. M&G Plc purchased a new position in Eversource Energy in the first quarter valued at approximately $83,539,000. Finally, BROOKFIELD Corp ON acquired a new stake in Eversource Energy during the first quarter worth approximately $65,389,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Up 0.2 %

Shares of NYSE ES opened at $66.94 on Friday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The firm has a market cap of $23.92 billion, a P/E ratio of -247.46, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61. The firm’s 50 day moving average price is $66.49 and its 200 day moving average price is $62.43. 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 released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The firm 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 firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.00 earnings per share. As a group, sell-side analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is currently -1,059.26%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. BMO Capital Markets lowered their target price 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. Wells Fargo & Company raised their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Scotiabank boosted their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley lifted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and an average target price 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.