Global Retirement Partners LLC Buys Shares of 7,501 Eversource Energy $ES

Global Retirement Partners LLC acquired a new stake in shares of Eversource Energy (NYSE:ES) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 7,501 shares of the utilities provider’s stock, valued at approximately $477,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. PDS Planning Inc lifted its holdings in shares of Eversource Energy by 4.7% during the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 173 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Eversource Energy by 2.9% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 176 shares during the period. Thrive Wealth Management LLC grew its stake in Eversource Energy by 3.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock valued at $346,000 after acquiring an additional 189 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its position in Eversource Energy by 1.4% in the 2nd 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, Hantz Financial Services Inc. raised its holdings in shares of Eversource Energy by 17.9% during the second quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock worth $82,000 after acquiring an additional 195 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Activity at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Wells Fargo & Company lowered shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $79.00 to $63.00 in a research report on Wednesday, November 19th. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research note on Monday, November 24th. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Thursday, November 6th. Finally, Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $70.55.

Eversource Energy Stock Up 0.7%

Shares of ES opened at $67.18 on Friday. The company has a market capitalization of $25.21 billion, a P/E ratio of 18.41, a PEG ratio of 2.94 and a beta of 0.69. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The business’s 50 day simple moving average is $71.36 and its 200-day simple moving average is $67.01. 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 (NYSE:ES) last posted its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. Eversource Energy’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.13 EPS. As a group, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid 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 4.5%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

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.