Independent Advisor Alliance Sells 1,476 Shares of Eversource Energy (NYSE:ES)

Independent Advisor Alliance trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 27.1% during the third quarter, HoldingsChannel reports. The fund owned 3,970 shares of the utilities provider’s stock after selling 1,476 shares during the quarter. Independent Advisor Alliance’s holdings in Eversource Energy were worth $270,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Lynx Investment Advisory bought a new stake in shares of Eversource Energy in the second quarter worth $25,000. Ashton Thomas Securities LLC acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at about $32,000. UMB Bank n.a. increased its holdings in shares of Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares in the last quarter. Larson Financial Group LLC lifted its holdings in shares of Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 350 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in Eversource Energy in the 1st quarter valued at $43,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ES. Barclays upped their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Scotiabank increased their price objective on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Mizuho lifted their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Morgan Stanley lifted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $70.46.

Eversource Energy Trading Up 1.6 %

Shares of ES opened at $64.59 on Friday. The business’s 50-day moving average price is $64.39 and its 200-day moving average price is $62.98. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The stock has a market cap of $23.67 billion, a PE ratio of -41.14, a P/E/G ratio of 2.56 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.97 EPS. On average, equities analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.43%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is -182.17%.

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.