Bessemer Group Inc. Sells 976 Shares of Eversource Energy $ES

Bessemer Group Inc. trimmed its stake in shares of Eversource Energy (NYSE:ES) by 14.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,995 shares of the utilities provider’s stock after selling 976 shares during the quarter. Bessemer Group Inc.’s holdings in Eversource Energy were worth $382,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. PDS Planning Inc grew its position in Eversource Energy by 4.7% during the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after buying an additional 173 shares in the last quarter. Avidian Wealth Enterprises LLC grew its position in Eversource Energy by 2.9% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock worth $393,000 after buying an additional 176 shares in the last quarter. Thrive Wealth Management LLC grew its position in Eversource Energy by 3.6% during the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock worth $346,000 after buying an additional 189 shares in the last quarter. Penobscot Investment Management Company Inc. grew its position in Eversource Energy by 1.4% during the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after buying an additional 195 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its position in Eversource Energy by 0.8% during the second quarter. Capital Investment Advisors LLC now owns 26,467 shares of the utilities provider’s stock worth $1,684,000 after buying an additional 210 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Up 0.1%

NYSE ES opened at $73.89 on Monday. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The stock has a 50-day moving average of $68.92 and a 200-day moving average of $65.55. The firm has a market cap of $27.42 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.65 and a beta of 0.69.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.Eversource Energy’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS. As a group, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.7525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s dividend payout ratio is currently 129.18%.

Wall Street Analysts Forecast Growth

ES has been the subject of several recent analyst reports. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Wells Fargo & Company initiated coverage on Eversource Energy in a report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price objective for the company. TD Cowen initiated coverage on Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective for the company. Finally, Mizuho upped their price objective on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a report on Monday, October 27th. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $70.56.

Insider Activity

In other news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company’s stock.

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.