Eversource Energy (NYSE:ES) Shares Sold by abrdn plc

abrdn plc lowered its position in shares of Eversource Energy (NYSE:ES) by 7.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 698,632 shares of the utilities provider’s stock after selling 56,797 shares during the quarter. abrdn plc owned about 0.20% of Eversource Energy worth $47,493,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. raised its position in Eversource Energy by 0.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,968 shares of the utilities provider’s stock valued at $52,536,000 after purchasing an additional 3,407 shares during the period. Norden Group LLC purchased a new stake in shares of Eversource Energy during the 1st quarter valued at about $461,000. First Trust Direct Indexing L.P. lifted its position in Eversource Energy by 53.4% during the 1st quarter. First Trust Direct Indexing L.P. now owns 6,955 shares of the utilities provider’s stock worth $416,000 after acquiring an additional 2,420 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in Eversource Energy in the 1st quarter worth approximately $264,000. Finally, Van ECK Associates Corp grew its position in Eversource Energy by 4.7% in the first quarter. Van ECK Associates Corp now owns 82,752 shares of the utilities provider’s stock valued at $4,946,000 after acquiring an additional 3,707 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America upped their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Barclays raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $70.07.

Eversource Energy Stock Performance

Shares of ES opened at $65.49 on Thursday. The stock has a market capitalization of $23.41 billion, a PE ratio of -242.56, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The business’s fifty day moving average price is $66.51 and its 200 day moving average price is $62.66. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period last year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts forecast that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.37%. Eversource Energy’s dividend payout ratio is currently -1,059.26%.

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.