Exchange Traded Concepts LLC Purchases New Stake in Eversource Energy (NYSE:ES)

Exchange Traded Concepts LLC acquired a new stake in Eversource Energy (NYSE:ES) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,679 shares of the utilities provider’s stock, valued at approximately $114,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. grew its position in shares of Eversource Energy by 15.6% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 4,375 shares of the utilities provider’s stock valued at $270,000 after buying an additional 590 shares during the last quarter. RFG Advisory LLC boosted its position in Eversource Energy by 12.7% during the 1st quarter. RFG Advisory LLC now owns 4,382 shares of the utilities provider’s stock worth $262,000 after acquiring an additional 493 shares during the period. Global Assets Advisory LLC bought a new position in shares of Eversource Energy in the first quarter worth $2,520,000. Sound Income Strategies LLC raised its position in shares of Eversource Energy by 30.9% during the 1st quarter. Sound Income Strategies LLC now owns 4,435 shares of the utilities provider’s stock worth $265,000 after buying an additional 1,046 shares in the last quarter. Finally, AMF Tjanstepension AB increased its position in shares of Eversource Energy by 219.3% during the 1st quarter. AMF Tjanstepension AB now owns 509,846 shares of the utilities provider’s stock valued at $30,528,000 after purchasing an additional 350,167 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Barclays upped their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company increased their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Scotiabank lifted their price target on shares of 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 issued a buy rating to the stock. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average target price of $70.07.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was 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 insiders.

Eversource Energy Trading Up 0.2 %

NYSE ES opened at $66.23 on Wednesday. The firm’s 50 day moving average price is $66.48 and its two-hundred day moving average price is $62.40. The stock has a market cap of $23.33 billion, a price-to-earnings ratio of -56.13, a PEG ratio of 2.49 and a beta of 0.61. Eversource Energy has a twelve month low of $52.03 and a twelve month 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.

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

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.32%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

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.