Mercer Global Advisors Inc. ADV Raises Stock Position in Eversource Energy (NYSE:ES)

Mercer Global Advisors Inc. ADV raised its stake in shares of Eversource Energy (NYSE:ES) by 2.1% during the first quarter, Holdings Channel reports. The firm owned 40,949 shares of the utilities provider’s stock after buying an additional 840 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Eversource Energy were worth $3,546,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Concord Wealth Partners purchased a new position in Eversource Energy during the 4th quarter valued at $25,000. Regent Peak Wealth Advisors LLC purchased a new position in Eversource Energy during the 4th quarter valued at $31,000. Horan Securities Inc. purchased a new stake in shares of Eversource Energy in the 4th quarter worth about $32,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Eversource Energy in the 1st quarter worth about $37,000. Finally, Goodwin Investment Advisory purchased a new stake in shares of Eversource Energy in the 1st quarter worth about $38,000. 77.42% of the stock is currently owned by institutional investors and hedge funds.

In other Eversource Energy news, VP Jay S. Buth sold 3,001 shares of the company’s stock in a transaction dated Tuesday, May 18th. The shares were sold at an average price of $84.38, for a total transaction of $253,224.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Faasen William C. Van sold 1,813 shares of the company’s stock in a transaction dated Thursday, May 13th. The shares were sold at an average price of $85.15, for a total transaction of $154,376.95. The disclosure for this sale can be found here. Insiders have sold a total of 16,814 shares of company stock worth $1,393,521 in the last 90 days. Company insiders own 0.34% of the company’s stock.

ES has been the topic of a number of recent research reports. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Friday, April 23rd. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, February 25th. Mizuho initiated coverage on shares of Eversource Energy in a research report on Wednesday, April 14th. They issued a “neutral” rating and a $89.00 target price on the stock. Morgan Stanley upped their target price on shares of Eversource Energy from $80.00 to $87.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 20th. Finally, Credit Suisse Group dropped their price target on shares of Eversource Energy from $89.00 to $85.00 and set an “underperform” rating on the stock in a research note on Tuesday, May 11th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $89.67.

Shares of Eversource Energy stock opened at $83.12 on Friday. The company has a market cap of $28.55 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 3.28 and a beta of 0.29. The stock has a 50-day moving average price of $85.05. Eversource Energy has a 1 year low of $76.64 and a 1 year high of $96.66. The company has a current ratio of 0.57, a quick ratio of 0.51 and a debt-to-equity ratio of 1.04.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, May 10th. The utilities provider reported $1.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.01). The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.60 billion. Eversource Energy had a net margin of 13.22% and a return on equity of 9.24%. Eversource Energy’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.02 EPS. Research analysts anticipate that Eversource Energy will post 3.84 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Thursday, May 20th will be paid a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, May 19th. Eversource Energy’s dividend payout ratio is currently 66.21%.

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.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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