81,007 Shares in Eversource Energy (NYSE:ES) Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. acquired a new position in Eversource Energy (NYSE:ES) in the 2nd quarter, HoldingsChannel reports. The firm acquired 81,007 shares of the utilities provider’s stock, valued at approximately $4,594,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Heritage Wealth Advisors purchased a new stake in shares of Eversource Energy in the fourth quarter worth approximately $25,000. Lynx Investment Advisory purchased a new stake in shares of Eversource Energy in the second quarter worth approximately $25,000. Rise Advisors LLC purchased a new stake in shares of Eversource Energy in the first quarter worth approximately $27,000. Versant Capital Management Inc raised its stake in shares of Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

Shares of NYSE ES opened at $68.23 on Wednesday. The stock has a fifty day simple moving average of $65.16 and a two-hundred day simple moving average of $61.17. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The firm has a market cap of $24.03 billion, a price-to-earnings ratio of -57.82, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the company earned $1.00 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date of this dividend is Monday, September 23rd. Eversource Energy’s payout ratio is currently -242.37%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ES. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Scotiabank upped their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. BMO Capital Markets reduced their target price on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, August 19th. Barclays upped their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Finally, Wells Fargo & Company upped their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $68.93.

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.