Intact Investment Management Inc. Purchases Shares of 1,100 Eversource Energy (NYSE:ES)

Intact Investment Management Inc. purchased a new stake in Eversource Energy (NYSE:ES) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,100 shares of the utilities provider’s stock, valued at approximately $75,000.

Other large investors have also recently bought and sold shares of the company. Lynx Investment Advisory bought a new stake in Eversource Energy in the second quarter valued at $25,000. UMB Bank n.a. grew its position in Eversource Energy by 62.9% in the third 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. Manchester Capital Management LLC grew its position in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 276 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of Eversource Energy during the third quarter worth $48,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Eversource Energy during the first quarter worth $43,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Down 2.1 %

NYSE:ES opened at $62.07 on Wednesday. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The business’s 50-day moving average price is $66.26 and its two-hundred day moving average price is $62.84. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $22.18 billion, a price-to-earnings ratio of -39.54, a PEG ratio of 2.48 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, equities analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

Insider Activity at Eversource Energy

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 shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $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.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ES. Mizuho increased their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. BMO Capital Markets decreased their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. 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 report on Friday, August 23rd. Barclays increased their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $70.07.

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.