Public Sector Pension Investment Board Acquires 20,207 Shares of Eversource Energy (NYSE:ES)

Public Sector Pension Investment Board increased its holdings in shares of Eversource Energy (NYSE:ES) by 0.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,385,281 shares of the utilities provider’s stock after acquiring an additional 20,207 shares during the quarter. Eversource Energy makes up about 1.2% of Public Sector Pension Investment Board’s holdings, making the stock its 12th largest position. Public Sector Pension Investment Board owned about 0.96% of Eversource Energy worth $191,979,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. D.A. Davidson & CO. increased its stake in shares of Eversource Energy by 1.4% during the 4th quarter. D.A. Davidson & CO. now owns 20,055 shares of the utilities provider’s stock worth $1,238,000 after purchasing an additional 268 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in Eversource Energy by 151.2% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,437 shares of the utilities provider’s stock worth $89,000 after buying an additional 865 shares during the last quarter. SageView Advisory Group LLC raised its stake in shares of Eversource Energy by 9.4% in the fourth quarter. SageView Advisory Group LLC now owns 9,293 shares of the utilities provider’s stock valued at $574,000 after buying an additional 801 shares during the period. Orion Portfolio Solutions LLC lifted its position in shares of Eversource Energy by 2.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,613 shares of the utilities provider’s stock valued at $667,000 after buying an additional 283 shares during the last quarter. Finally, Congress Wealth Management LLC DE grew its stake in shares of Eversource Energy by 46.7% during the 4th quarter. Congress Wealth Management LLC DE now owns 5,063 shares of the utilities provider’s stock worth $313,000 after acquiring an additional 1,611 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value 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 approximately $591,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, 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 directly 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 this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the company’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 completion of the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ES. Scotiabank boosted their price objective 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. BMO Capital Markets lowered their price target on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, August 19th. Morgan Stanley raised their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America raised their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $68.93.

Eversource Energy Price Performance

Shares of NYSE ES opened at $67.14 on Monday. The stock’s 50-day simple moving average is $65.64 and its two-hundred day simple moving average is $61.36. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. The firm has a market capitalization of $23.65 billion, a P/E ratio of -56.90, a P/E/G ratio of 2.59 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the business earned $1.00 earnings per share. Eversource Energy’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 dividend on an annualized basis and a yield of 4.26%. Eversource Energy’s dividend payout ratio is presently -242.37%.

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.