Patriot Financial Group Insurance Agency LLC Increases Stock Holdings in Eversource Energy (NYSE:ES)

Patriot Financial Group Insurance Agency LLC increased its holdings in shares of Eversource Energy (NYSE:ES) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,049 shares of the utilities provider’s stock after buying an additional 918 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Eversource Energy were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. ClearBridge Investments Ltd purchased a new stake in shares of Eversource Energy during the 1st quarter valued at $156,093,000. Zimmer Partners LP increased its stake in Eversource Energy by 730.4% during the first 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 raised its holdings in shares of Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares during the period. M&G Plc purchased a new position in shares of Eversource Energy in the 1st quarter worth about $83,539,000. Finally, BROOKFIELD Corp ON acquired a new position in shares of Eversource Energy in the 1st quarter valued at about $65,389,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the business’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 value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

ES has been the subject of a number of research analyst reports. Wells Fargo & Company increased 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. BMO Capital Markets cut their target price on shares of 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. Mizuho lifted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Barclays increased their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Morgan Stanley boosted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. 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 Up 1.0 %

Shares of NYSE:ES opened at $66.49 on Tuesday. The firm has a market cap of $23.76 billion, a PE ratio of -246.26, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The company has a fifty day simple moving average of $66.56 and a 200 day simple moving average of $62.60. 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.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share 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 company’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

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. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.30%. Eversource Energy’s dividend payout ratio (DPR) is -1,059.26%.

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.