Eversource Energy Target of Unusually Large Options Trading (NYSE:ES)

Eversource Energy (NYSE:ES) was the target of unusually large options trading activity on Tuesday. Traders acquired 1,025 call options on the stock. This is an increase of approximately 1,386% compared to the typical daily volume of 69 call options.

Several brokerages have recently weighed in on ES. Zacks Investment Research cut shares of Forward Air from a “hold” rating to a “sell” rating in a research note on Monday, June 17th. KeyCorp initiated coverage on shares of Southern in a research note on Tuesday, June 4th. They set a “sector weight” rating for the company. Bank of America set a $68.00 target price on shares of Inphi and gave the company a “buy” rating in a research note on Monday. UBS Group reissued a “buy” rating on shares of Fortis in a research note on Friday, June 7th. Finally, Morgan Stanley set a $18.00 price target on PG&E and gave the company a “hold” rating in a report on Friday, June 14th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.00.

In other news, EVP Leon J. Olivier sold 7,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $72.95, for a total value of $510,650.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.37% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the company. 6 Meridian grew its holdings in shares of Eversource Energy by 2.0% in the second quarter. 6 Meridian now owns 7,233 shares of the utilities provider’s stock worth $548,000 after acquiring an additional 140 shares during the period. BB&T Corp grew its holdings in Eversource Energy by 0.7% during the first quarter. BB&T Corp now owns 21,097 shares of the utilities provider’s stock valued at $1,497,000 after purchasing an additional 149 shares during the period. Kaizen Advisory LLC grew its holdings in Eversource Energy by 24.7% during the fourth quarter. Kaizen Advisory LLC now owns 838 shares of the utilities provider’s stock valued at $55,000 after purchasing an additional 166 shares during the period. Cetera Advisors LLC lifted its position in shares of Eversource Energy by 2.3% in the first quarter. Cetera Advisors LLC now owns 7,576 shares of the utilities provider’s stock valued at $537,000 after acquiring an additional 172 shares in the last quarter. Finally, Somerset Trust Co lifted its position in shares of Eversource Energy by 0.7% in the first quarter. Somerset Trust Co now owns 27,362 shares of the utilities provider’s stock valued at $1,942,000 after acquiring an additional 177 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors.

Eversource Energy stock traded up $1.04 during midday trading on Thursday, reaching $78.40. The company’s stock had a trading volume of 1,371,020 shares, compared to its average volume of 1,711,050. The firm’s 50-day moving average is $76.35. The company has a current ratio of 0.50, a quick ratio of 0.44 and a debt-to-equity ratio of 1.06. The firm has a market cap of $24.46 billion, a PE ratio of 23.90, a PEG ratio of 3.98 and a beta of 0.26. Eversource Energy has a 52 week low of $57.49 and a 52 week high of $78.42.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Eversource Energy had a return on equity of 9.43% and a net margin of 12.50%. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The company’s revenue was up 5.6% compared to the same quarter last year. Research analysts anticipate that Eversource Energy will post 3.46 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 23rd were given a dividend of $0.535 per share. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend was Wednesday, May 22nd. Eversource Energy’s payout ratio is 65.24%.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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