Patrick M Sweeney & Associates Inc. Acquires Shares of 3,174 Eversource Energy (NYSE:ES)

Patrick M Sweeney & Associates Inc. bought a new position in Eversource Energy (NYSE:ES) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,174 shares of the utilities provider’s stock, valued at approximately $216,000.

A number of other hedge funds have also made changes to their positions in the company. ClearBridge Investments Ltd bought a new stake in Eversource Energy during the first quarter worth about $156,093,000. Zimmer Partners LP grew its position in 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 acquiring an additional 2,231,585 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in 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 valued at $227,929,000 after purchasing an additional 1,524,341 shares in the last quarter. M&G Plc bought a new position in Eversource Energy in the 1st quarter valued at $83,539,000. Finally, BROOKFIELD Corp ON bought a new stake in shares of Eversource Energy during the first quarter worth $65,389,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated 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 directly owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 500 shares of the company’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 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 $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 corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Mizuho boosted their price objective 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. Finally, Bank of America increased their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $70.07.

Eversource Energy Trading Up 1.3 %

NYSE ES opened at $67.09 on Thursday. 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 has a 12 month low of $52.03 and a 12 month high of $69.01. The company has a market capitalization of $23.63 billion, a PE ratio of -56.86, a P/E/G ratio of 2.49 and a beta of 0.61. The stock has a 50-day simple moving average of $66.49 and a 200 day simple moving average of $62.43.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The business 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%. Eversource Energy’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. Research analysts forecast that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is -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.