Burney Co. Purchases 38,490 Shares of Eversource Energy $ES

Burney Co. grew its position in Eversource Energy (NYSE:ES) by 85.1% in the second quarter, Holdings Channel.com reports. The fund owned 83,720 shares of the utilities provider’s stock after buying an additional 38,490 shares during the period. Burney Co.’s holdings in Eversource Energy were worth $5,326,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $28,000. Hilltop National Bank bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $32,000. Zions Bancorporation National Association UT bought a new stake in shares of Eversource Energy in the 1st quarter worth approximately $46,000. Cromwell Holdings LLC lifted its position in shares of Eversource Energy by 44.2% in the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 254 shares during the period. Finally, Bogart Wealth LLC lifted its position in shares of Eversource Energy by 100.9% in the 2nd quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 466 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on ES shares. Mizuho raised their price objective on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Wells Fargo & Company initiated coverage on Eversource Energy in a report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 target price for the company. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a report on Friday. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.56.

Eversource Energy Trading Up 0.6%

ES stock opened at $74.28 on Tuesday. The business has a fifty day moving average price of $69.13 and a 200 day moving average price of $65.67. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The stock has a market capitalization of $27.57 billion, a price-to-earnings ratio of 31.88, a P/E/G ratio of 2.65 and a beta of 0.69. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is currently 129.18%.

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.