Bleakley Financial Group LLC Trims Stock Position in Eversource Energy (NYSE:ES)

Bleakley Financial Group LLC lowered its stake in shares of Eversource Energy (NYSE:ES) by 7.1% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,832 shares of the utilities provider’s stock after selling 369 shares during the period. Bleakley Financial Group LLC’s holdings in Eversource Energy were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Lynx Investment Advisory acquired a new position in Eversource Energy in the 2nd quarter worth about $25,000. UMB Bank n.a. increased its holdings in shares of Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Manchester Capital Management LLC increased its holdings in shares of Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 276 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Eversource Energy by 4,187.5% in the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 670 shares during the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Eversource Energy in the first quarter valued at approximately $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of ES opened at $66.23 on Wednesday. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. The stock’s 50 day moving average is $66.48 and its two-hundred day moving average is $62.40. The firm has a market capitalization of $23.33 billion, a PE ratio of -56.13, a P/E/G ratio of 2.49 and a beta of 0.61. 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 announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 EPS. Research analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.32%. Eversource Energy’s dividend payout ratio is currently -242.37%.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed 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 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 $639,464.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $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.

Analyst Ratings Changes

Several research analysts recently weighed in on ES shares. Bank of America increased their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Mizuho increased their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Scotiabank increased 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. Finally, BMO Capital Markets cut their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $70.07.

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.