Great Oak Capital Partners LLC Invests $980,000 in Eversource Energy (NYSE:ES)

Great Oak Capital Partners LLC purchased a new position in shares of Eversource Energy (NYSE:ES) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,277 shares of the utilities provider’s stock, valued at approximately $980,000. Eversource Energy accounts for approximately 0.4% of Great Oak Capital Partners LLC’s investment portfolio, making the stock its 21st biggest position.

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

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $67.14 on Friday. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. The firm has a market cap of $23.65 billion, a PE ratio of -56.90, a price-to-earnings-growth ratio of 2.59 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 has a fifty day moving average of $65.64 and a 200-day moving average of $61.34.

Eversource Energy (NYSE:ES) last announced its 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. 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 analyst estimates of $2.90 billion. During the same period last year, the company posted $1.00 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date is Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is currently -242.37%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated 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 in the company, valued at $639,464.18. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction dated 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 in the company, valued at approximately $639,464.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated 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 owns 9,032 shares in the company, valued at approximately $591,596. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

ES has been the subject of a number of research reports. 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 report on Thursday, August 29th. Scotiabank raised 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. Morgan Stanley raised their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Barclays raised their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $68.93.

About Eversource Energy

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.