Strait & Sound Wealth Management LLC Buys Shares of 3,027 Eversource Energy (NYSE:ES)

Strait & Sound Wealth Management LLC purchased a new stake in shares of Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,027 shares of the utilities provider’s stock, valued at approximately $206,000.

Several other institutional investors have also recently made changes to their positions in ES. Czech National Bank increased its stake in Eversource Energy by 9.2% in the 2nd quarter. Czech National Bank now owns 67,125 shares of the utilities provider’s stock worth $3,807,000 after buying an additional 5,661 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in Eversource Energy by 4.3% during the second quarter. Sequoia Financial Advisors LLC now owns 17,378 shares of the utilities provider’s stock valued at $986,000 after buying an additional 718 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Eversource Energy by 1.3% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 53,820 shares of the utilities provider’s stock valued at $3,052,000 after buying an additional 678 shares in the last quarter. Great Valley Advisor Group Inc. increased its stake in Eversource Energy by 13.0% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 60,834 shares of the utilities provider’s stock worth $3,450,000 after acquiring an additional 6,991 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Eversource Energy during the 2nd quarter worth approximately $83,000. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price on the stock. Morgan Stanley lifted their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Barclays lifted their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $69.15.

Eversource Energy Stock Up 0.8 %

Shares of NYSE:ES opened at $60.25 on Tuesday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The business’s 50 day moving average is $63.69 and its 200 day moving average is $63.08. The stock has a market cap of $22.08 billion, a P/E ratio of -38.38, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the company earned $0.97 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 18th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.75%. Eversource Energy’s dividend payout ratio is presently -182.17%.

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.