Parcion Private Wealth LLC Invests $210,000 in Eversource Energy (NYSE:ES)

Parcion Private Wealth LLC acquired a new position in shares of 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 3,090 shares of the utilities provider’s stock, valued at approximately $210,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ES. LVW Advisors LLC raised its stake in Eversource Energy by 7.4% during the first quarter. LVW Advisors LLC now owns 8,052 shares of the utilities provider’s stock worth $481,000 after acquiring an additional 552 shares during the period. BKM Wealth Management LLC raised its stake in Eversource Energy by 26.1% during the first quarter. BKM Wealth Management LLC now owns 13,363 shares of the utilities provider’s stock worth $799,000 after acquiring an additional 2,762 shares during the period. Capital Advisors Ltd. LLC increased its stake in shares of Eversource Energy by 46.1% in the first quarter. Capital Advisors Ltd. LLC now owns 1,267 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Eversource Energy by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,968 shares of the utilities provider’s stock valued at $52,536,000 after purchasing an additional 3,407 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of Eversource Energy in the first quarter valued at approximately $461,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ES. Scotiabank raised their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. BMO Capital Markets dropped their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Barclays raised 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 note on Tuesday, October 15th. Morgan Stanley raised their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company raised their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $70.07.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 1.5 %

Eversource Energy stock opened at $65.84 on Friday. The company’s fifty day simple moving average is $66.55 and its 200-day simple moving average is $62.52. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The stock has a market cap of $23.53 billion, a P/E ratio of -243.85, a P/E/G ratio of 2.58 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company posted $1.00 EPS. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. As a group, sell-side analysts forecast that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

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.