Seven Eight Capital LP Has $711,000 Stake in Eversource Energy (NYSE:ES)

Seven Eight Capital LP increased its stake in Eversource Energy (NYSE:ES) by 226.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,530 shares of the utilities provider’s stock after purchasing an additional 8,696 shares during the period. Seven Eight Capital LP’s holdings in Eversource Energy were worth $711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $25,000. Lynx Investment Advisory acquired a new stake in Eversource Energy in the 2nd quarter valued at $25,000. Rise Advisors LLC bought a new stake in Eversource Energy during the 1st quarter worth about $27,000. Versant Capital Management Inc boosted its stake in shares of 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 last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in shares of 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 in the last quarter. Institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ES shares. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Barclays boosted their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. BMO Capital Markets decreased their price objective on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, August 19th. Morgan Stanley upped their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.93.

Insider Transactions at Eversource Energy

In related news, EVP Penelope M. Conner sold 500 shares of the 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 sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $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 the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $67.14 on Friday. The business’s 50 day moving average is $65.64 and its 200-day moving average is $61.34. The firm has a market cap of $23.65 billion, a P/E ratio of -56.90, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting 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 the consensus estimate of $2.90 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue was down 3.7% on a year-over-year basis. Equities research analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

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

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.