Blue Trust Inc. Acquires 1,349 Shares of Eversource Energy (NYSE:ES)

Blue Trust Inc. increased its holdings in shares of Eversource Energy (NYSE:ES) by 135.2% during the third quarter, HoldingsChannel.com reports. The fund owned 2,347 shares of the utilities provider’s stock after buying an additional 1,349 shares during the quarter. Blue Trust Inc.’s holdings in Eversource Energy were worth $160,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of ES. ClearBridge Investments Ltd bought a new stake in Eversource Energy during the first quarter worth $156,093,000. Zimmer Partners LP grew its position in Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after buying an additional 2,231,585 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after buying an additional 1,524,341 shares in the last quarter. M&G Plc purchased a new position in Eversource Energy during the first quarter worth about $83,539,000. Finally, BROOKFIELD Corp ON bought a new stake in Eversource Energy during the first quarter worth about $65,389,000. 79.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was 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 of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was 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 accessible through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Eversource Energy Price Performance

NYSE ES opened at $65.84 on Monday. The company has a market capitalization of $23.53 billion, a PE ratio of -243.85, a price-to-earnings-growth ratio of 2.58 and a beta of 0.61. 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 business’s fifty day moving average is $66.55 and its 200 day moving average is $62.55. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.34%. Eversource Energy’s payout ratio is currently -1,059.26%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ES. BMO Capital Markets dropped their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Bank of America boosted their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Scotiabank boosted their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Barclays boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.