Quarry LP Buys 2,149 Shares of Eversource Energy (NYSE:ES)

Quarry LP increased its stake in Eversource Energy (NYSE:ES) by 203.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,204 shares of the utilities provider’s stock after buying an additional 2,149 shares during the quarter. Quarry LP’s holdings in Eversource Energy were worth $182,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Orion Portfolio Solutions LLC increased its stake 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 worth $667,000 after purchasing an additional 283 shares during the last quarter. Bank of Nova Scotia raised its stake in Eversource Energy by 3.7% in the fourth quarter. Bank of Nova Scotia now owns 45,719 shares of the utilities provider’s stock valued at $2,822,000 after buying an additional 1,624 shares during the period. California State Teachers Retirement System raised its stake in Eversource Energy by 18.5% in the fourth quarter. California State Teachers Retirement System now owns 770,605 shares of the utilities provider’s stock valued at $47,562,000 after buying an additional 120,382 shares during the period. KBC Group NV lifted its position in shares of Eversource Energy by 41.4% in the fourth quarter. KBC Group NV now owns 206,906 shares of the utilities provider’s stock valued at $12,771,000 after buying an additional 60,542 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Eversource Energy by 19.4% during the 4th quarter. The Manufacturers Life Insurance Company now owns 779,315 shares of the utilities provider’s stock worth $48,099,000 after acquiring an additional 126,696 shares during the period. 79.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Penelope M. Conner sold 500 shares of the firm’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 sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $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

A number of research firms recently weighed in on ES. BMO Capital Markets dropped their price target on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, August 19th. Wells Fargo & Company raised their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Scotiabank raised their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Barclays upped their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus target price of $68.93.

Eversource Energy Stock Performance

ES opened at $68.05 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The firm has a market cap of $23.97 billion, a P/E ratio of -57.67, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The business’s fifty day moving average is $66.36 and its 200-day moving average is $61.66.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $1.00 earnings per share. Sell-side analysts expect that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced 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. This represents a $2.86 annualized dividend and a yield of 4.20%. The ex-dividend date was Monday, September 23rd. 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.