Union Savings Bank Cuts Holdings in Eversource Energy $ES

Union Savings Bank lowered its position in shares of Eversource Energy (NYSE:ES) by 11.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 12,564 shares of the utilities provider’s stock after selling 1,550 shares during the quarter. Union Savings Bank’s holdings in Eversource Energy were worth $830,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ES. PDS Planning Inc boosted its position in Eversource Energy by 4.7% in the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 173 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its holdings in shares of Eversource Energy by 2.9% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock worth $393,000 after buying an additional 176 shares during the last quarter. Thrive Wealth Management LLC boosted its holdings in shares of Eversource Energy by 3.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock worth $346,000 after buying an additional 189 shares during the last quarter. Penobscot Investment Management Company Inc. grew its position in Eversource Energy by 1.4% during the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock valued at $917,000 after buying an additional 195 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in Eversource Energy by 17.9% during the second quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock worth $82,000 after buying an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ES shares. Mizuho boosted their target price on shares of Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company initiated coverage on Eversource Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price objective on the stock. Scotiabank increased their price objective on Eversource Energy from $55.00 to $64.00 and gave the company a “sector underperform” rating in a report on Wednesday, November 5th. BMO Capital Markets lowered their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. Finally, Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.70.

Eversource Energy Trading Down 0.5%

Shares of ES stock opened at $73.31 on Friday. The company’s fifty day simple moving average is $70.78 and its two-hundred day simple moving average is $66.51. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The stock has a market capitalization of $27.51 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.64 and a beta of 0.69.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the business earned $1.13 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 payout ratio is presently 82.47%.

Insider Activity

In other news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. This trade represents a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.41% of the company’s stock.

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.