Vise Technologies Inc. Makes New Investment in Eversource Energy $ES

Vise Technologies Inc. bought a new position in Eversource Energy (NYSE:ES) in the second quarter, Holdings Channel reports. The firm bought 11,433 shares of the utilities provider’s stock, valued at approximately $727,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH bought a new position in Eversource Energy in the 2nd quarter worth approximately $28,000. Hilltop National Bank purchased a new stake in Eversource Energy during the 2nd quarter worth about $32,000. True Wealth Design LLC boosted its stake in Eversource Energy by 540.0% in the 2nd quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 513 shares during the period. Zions Bancorporation National Association UT bought a new stake in shares of Eversource Energy during the first quarter valued at about $46,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Eversource Energy by 100.9% in the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after buying an additional 466 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $73.63 on Friday. The company’s fifty day simple moving average is $70.58 and its two-hundred day simple moving average is $66.41. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The firm has a market cap of $27.63 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 2.64 and a beta of 0.69. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm earned $1.13 earnings per share. Eversource Energy’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s payout ratio is presently 82.47%.

Insider Activity at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This represents a 11.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Loretta D. Keane purchased 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Wells Fargo & Company began coverage on shares of Eversource Energy in a research report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective on the stock. Jefferies Financial Group upped their price objective on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, October 22nd. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Finally, Mizuho lifted their target price on shares of Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $72.70.

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.