Aaron Wealth Advisors LLC Raises Position in Eversource Energy $ES

Aaron Wealth Advisors LLC increased its stake in Eversource Energy (NYSE:ES) by 241.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,593 shares of the utilities provider’s stock after purchasing an additional 9,616 shares during the period. Aaron Wealth Advisors LLC’s holdings in Eversource Energy were worth $967,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Neo Ivy Capital Management bought a new position in Eversource Energy in the second quarter valued at $26,000. Trust Co. of Toledo NA OH bought a new position in Eversource Energy during the second quarter valued at approximately $28,000. Elevation Point Wealth Partners LLC bought a new position in Eversource Energy during the second quarter valued at approximately $31,000. Hilltop National Bank purchased a new position in shares of Eversource Energy during the second quarter worth approximately $32,000. Finally, Anchor Investment Management LLC lifted its holdings in shares of Eversource Energy by 122.0% in the 2nd quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 300 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ES shares. UBS Group decreased their price objective on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday. TD Cowen assumed coverage on Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 price target on the stock. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Mizuho reissued a “neutral” rating and set a $68.00 price objective (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Finally, Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.27.

Eversource Energy Price Performance

ES opened at $67.19 on Thursday. The firm has a market cap of $25.21 billion, a PE ratio of 18.41, a P/E/G ratio of 2.41 and a beta of 0.76. The stock has a 50-day moving average price of $70.42 and a 200-day moving average price of $67.34. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. 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 announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the firm posted $1.13 EPS. Eversource Energy’s revenue for the quarter was up 5.2% on a year-over-year basis. Sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be paid a $0.7525 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.5%. Eversource Energy’s payout ratio is currently 82.47%.

Insider Buying and Selling at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the transaction, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by insiders.

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.