Parcion Private Wealth LLC Buys New Stake in Eversource Energy (NYSE:ES)

Parcion Private Wealth LLC bought a new stake in Eversource Energy (NYSE:ES) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,090 shares of the utilities provider’s stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ES. Lynx Investment Advisory bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $25,000. UMB Bank n.a. grew its stake in shares of Eversource Energy by 62.9% during 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 grew its stake in shares of Eversource Energy by 83.6% during 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 grew its stake in shares of Eversource Energy by 4,187.5% during 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 bought a new stake in shares of Eversource Energy during the first quarter valued at approximately $43,000. Institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In related 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at approximately $591,596. 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 insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Bank of America increased 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. BMO Capital Markets cut their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Morgan Stanley increased their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. Finally, Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Down 1.5 %

Shares of ES stock opened at $65.84 on Friday. The firm has a fifty day moving average of $66.55 and a 200-day moving average of $62.52. The company has a quick ratio of 0.66, a current ratio of 0.75 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 $23.53 billion, a price-to-earnings ratio of -243.85, a P/E/G ratio of 2.58 and a beta of 0.61.

Eversource Energy (NYSE:ES) last issued 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 company had revenue of $2.53 billion during 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%. The firm’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 earnings per share. As a group, equities research analysts predict that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is currently -1,059.26%.

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.