My Legacy Advisors LLC Reduces Holdings in Eversource Energy (NYSE:ES)

My Legacy Advisors LLC lowered its position in Eversource Energy (NYSE:ES) by 20.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,611 shares of the utilities provider’s stock after selling 2,256 shares during the period. My Legacy Advisors LLC’s holdings in Eversource Energy were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp raised its stake in Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Eversource Energy by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after purchasing an additional 20,207 shares during the period. Bank of New York Mellon Corp boosted its holdings in Eversource Energy by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after acquiring an additional 354,429 shares during the period. ClearBridge Investments Ltd purchased a new position in Eversource Energy during the 1st quarter valued at about $156,093,000. Finally, Zimmer Partners LP raised its position in Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after purchasing an additional 2,231,585 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES traded down $0.16 during mid-day trading on Tuesday, hitting $65.97. The company’s stock had a trading volume of 417,240 shares, compared to its average volume of 2,404,888. Eversource Energy has a one year low of $52.03 and a one year high of $69.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The firm has a market capitalization of $23.24 billion, a PE ratio of -56.08, a price-to-earnings-growth ratio of 2.49 and a beta of 0.61. The stock’s 50-day moving average is $66.47 and its two-hundred day moving average is $62.34.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the business earned $1.00 earnings per share. Eversource Energy’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.34%. Eversource Energy’s dividend payout ratio (DPR) is currently -242.37%.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 500 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 approximately $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. BMO Capital Markets cut their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays upped their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Mizuho upped their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.07.

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.