Richardson Financial Services Inc. Sells 216 Shares of Eversource Energy (NYSE:ES)

Richardson Financial Services Inc. decreased its position in shares of Eversource Energy (NYSE:ES) by 8.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,320 shares of the utilities provider’s stock after selling 216 shares during the period. Richardson Financial Services Inc.’s holdings in Eversource Energy were worth $132,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in ES. Heritage Wealth Advisors bought a new stake in Eversource Energy during the 4th quarter worth $25,000. Lynx Investment Advisory bought a new position in Eversource Energy in the 2nd quarter valued at approximately $25,000. Rise Advisors LLC acquired a new stake in Eversource Energy during the 1st quarter worth approximately $27,000. Versant Capital Management Inc boosted its position in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares during the period. Finally, Salem Investment Counselors Inc. increased its position in Eversource Energy by 49.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares during the period. 79.99% of the stock is owned by institutional investors.

Eversource Energy Price Performance

ES stock opened at $67.20 on Friday. 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 has a 50-day simple moving average of $65.50 and a two-hundred day simple moving average of $61.26. The company has a market capitalization of $23.67 billion, a P/E ratio of -56.95, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Eversource Energy’s quarterly revenue was down 3.7% on a year-over-year basis. Research analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be paid a $0.715 dividend. The ex-dividend date is Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.26%. Eversource Energy’s payout ratio is -242.37%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the company’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 owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of the firm’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 transaction 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were 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 owns 9,847 shares in the company, valued at approximately $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on ES shares. Barclays raised their target price on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Bank of America raised their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Scotiabank lifted their price target on shares of 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, Wells Fargo & Company increased their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $68.93.

Eversource Energy 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.