Rockland Trust Co. Purchases 275 Shares of Eversource Energy (NYSE:ES)

Rockland Trust Co. lifted its holdings in Eversource Energy (NYSE:ES) by 2.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,052 shares of the utilities provider’s stock after acquiring an additional 275 shares during the period. Rockland Trust Co.’s holdings in Eversource Energy were worth $956,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. ClearBridge Investments Ltd purchased a new stake in shares of Eversource Energy during the 1st quarter valued at about $156,093,000. Zimmer Partners LP lifted its stake 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 worth $151,642,000 after purchasing an additional 2,231,585 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Eversource Energy by 65.0% during 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 buying an additional 1,524,341 shares during the period. M&G Plc purchased a new position in shares of Eversource Energy during the first quarter valued at approximately $83,539,000. Finally, BROOKFIELD Corp ON bought a new position in shares of Eversource Energy during the first quarter valued at approximately $65,389,000. 79.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ES shares. Bank of America boosted their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Scotiabank raised their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their price objective 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. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, Morgan Stanley lifted their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $70.00.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the 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 owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of the business’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 of the company’s stock, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was 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 of the company’s stock, valued at approximately $591,596. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

NYSE ES traded down $0.51 on Friday, reaching $65.38. 1,593,769 shares of the company’s stock traded hands, compared to its average volume of 2,446,338. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01. 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 firm has a market cap of $23.03 billion, a price-to-earnings ratio of -55.41, a P/E/G ratio of 2.54 and a beta of 0.61. The stock has a 50 day moving average price of $66.63 and a 200-day moving average price of $61.83.

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

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is currently -242.37%.

Eversource Energy Company 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.