Trade Report: The Eversource Energy (ES) Position Increased by Essex Financial Services Inc.

The Eversource Energy (ES) Position Increased by Essex Financial Services Inc.

Essex Financial Services Inc. boosted its position in Eversource Energy (NYSE:ES) by 1.2% during the second quarter, Holdings Channel reports. The fund owned 7,913 shares of the company’s stock after buying an additional 97 shares during the period. Essex Financial Services Inc.’s holdings in Eversource Energy were worth $474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Eversource Energy by 23.7% in the first quarter. Wellington Management Group LLP now owns 15,277,277 shares of the company’s stock worth $891,277,000 after buying an additional 2,927,198 shares during the last quarter. State Street Corp boosted its position in Eversource Energy by 7.8% in the first quarter. State Street Corp now owns 16,077,054 shares of the company’s stock worth $937,936,000 after buying an additional 1,157,374 shares during the last quarter. American Century Companies Inc. purchased a new position in Eversource Energy during the second quarter worth approximately $62,821,000. Bank of Montreal Can purchased a new position in Eversource Energy during the second quarter worth approximately $22,730,000. Finally, NN Investment Partners Holdings N.V. boosted its position in Eversource Energy by 21.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,231,129 shares of the company’s stock worth $73,744,000 after buying an additional 213,461 shares during the last quarter. 69.34% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy (NYSE:ES) traded up 1.07% during mid-day trading on Monday, reaching $53.75. 1,455,058 shares of the company’s stock traded hands. Eversource Energy has a 12 month low of $48.18 and a 12 month high of $60.44. The firm’s 50-day moving average price is $54.04 and its 200 day moving average price is $56.21. The stock has a market capitalization of $17.05 billion, a PE ratio of 19.76 and a beta of 0.29.

Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.81 billion. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The firm’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 EPS. Equities research analysts predict that Eversource Energy will post $2.97 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were given a dividend of $0.445 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.78 dividend on an annualized basis and a yield of 3.31%. Eversource Energy’s payout ratio is currently 65.44%.

A number of research analysts have recently commented on ES shares. Zacks Investment Research cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Barclays PLC lifted their price target on shares of Eversource Energy from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 7th. Citigroup Inc. dropped their price target on shares of Eversource Energy from $61.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price target for the company in a research note on Monday, August 1st. Finally, Argus restated a “buy” rating and issued a $59.00 price target (down previously from $64.00) on shares of Eversource Energy in a research note on Wednesday, October 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. Eversource Energy has an average rating of “Hold” and an average target price of $59.67.

In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.89% of the company’s stock.

About Eversource Energy

Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

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