Exchange Traded Concepts LLC Purchases Shares of 1,679 Eversource Energy (NYSE:ES)

Exchange Traded Concepts LLC purchased a new position in shares of Eversource Energy (NYSE:ES) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,679 shares of the utilities provider’s stock, valued at approximately $114,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ClearBridge Investments Ltd purchased a new stake in Eversource Energy during the 1st quarter valued at approximately $156,093,000. Zimmer Partners LP boosted its position in shares of Eversource Energy by 730.4% during the 1st 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Eversource Energy by 65.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares in the last quarter. M&G Plc acquired a new position in shares of Eversource Energy during the 1st quarter worth $83,539,000. Finally, BROOKFIELD Corp ON purchased a new position in shares of Eversource Energy in the 1st quarter valued at about $65,389,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES opened at $66.23 on Wednesday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The company’s 50 day simple moving average is $66.48 and its 200 day simple moving average is $62.40. The company has a market capitalization of $23.33 billion, a price-to-earnings ratio of -56.13, a PEG ratio of 2.49 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.

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

Eversource Energy Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -242.37%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Mizuho upped their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Morgan Stanley upped their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Barclays raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Bank of America boosted their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.07.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the business’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 completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value 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 approximately $639,464.18. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

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.