Allworth Financial LP Purchases 2,409 Shares of Eversource Energy $ES

Allworth Financial LP grew its stake in shares of Eversource Energy (NYSE:ES) by 25.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,755 shares of the utilities provider’s stock after acquiring an additional 2,409 shares during the period. Allworth Financial LP’s holdings in Eversource Energy were worth $748,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Hilltop National Bank bought a new position in Eversource Energy in the 2nd quarter worth about $32,000. AGF Management Ltd. increased its position in shares of Eversource Energy by 12.3% during the 2nd quarter. AGF Management Ltd. now owns 56,868 shares of the utilities provider’s stock valued at $3,618,000 after purchasing an additional 6,229 shares during the last quarter. Truist Financial Corp grew its position in shares of Eversource Energy by 60.7% during the 2nd quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider’s stock valued at $2,207,000 after acquiring an additional 13,112 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Eversource Energy by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 114,068 shares of the utilities provider’s stock worth $7,257,000 after buying an additional 1,077 shares during the period. Finally, AE Wealth Management LLC lifted its holdings in Eversource Energy by 382.2% during the second quarter. AE Wealth Management LLC now owns 288,828 shares of the utilities provider’s stock valued at $18,375,000 after purchasing an additional 228,933 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group lowered shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Thursday, November 6th. Mizuho upped their price objective on shares of Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $72.70.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Loretta D. Keane acquired 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Trading Down 0.5%

NYSE:ES opened at $73.31 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. The business’s 50-day moving average is $70.78 and its two-hundred day moving average is $66.51. The firm has a market capitalization of $27.51 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.64 and a beta of 0.69.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.Eversource Energy’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.13 earnings per share. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.1%. Eversource Energy’s payout ratio is currently 82.47%.

About Eversource Energy

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.