Eversource Energy (NYSE:ES) EVP Sells $300,467.33 in Stock
by Scott Moore · The Cerbat GemEversource Energy (NYSE:ES – Get Free Report) EVP James Hunt III sold 4,129 shares of Eversource Energy stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total value 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 approximately $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 through this hyperlink.
Eversource Energy Stock Down 0.8%
Eversource Energy stock traded down $0.59 during mid-day trading on Monday, reaching $72.45. 2,778,630 shares of the company’s stock were exchanged, compared to its average volume of 2,750,756. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The company has a fifty day moving average of $69.81 and a 200-day moving average of $66.10. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. The company has a market cap of $26.89 billion, a P/E ratio of 19.85, a P/E/G ratio of 2.62 and a beta of 0.69.
Eversource Energy (NYSE:ES – Get Free Report) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.13 earnings per share. Sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current year.
Eversource Energy Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is presently 82.47%.
Analysts Set New Price Targets
ES has been the topic of several research analyst reports. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. TD Cowen assumed coverage on Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target for the company. Finally, BMO Capital Markets decreased their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $72.70.
Check Out Our Latest Stock Report on ES
Institutional Trading of Eversource Energy
A number of hedge funds have recently modified their holdings of ES. United Asset Strategies Inc. grew its holdings in shares of Eversource Energy by 1.0% in the 3rd quarter. United Asset Strategies Inc. now owns 13,288 shares of the utilities provider’s stock valued at $945,000 after buying an additional 138 shares during the period. Mystic Asset Management Inc. raised its position in shares of Eversource Energy by 0.9% during the third quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock worth $1,177,000 after purchasing an additional 150 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Eversource Energy by 3.3% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock valued at $360,000 after purchasing an additional 162 shares during the period. PDS Planning Inc increased its stake in Eversource Energy by 4.7% during the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 173 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC lifted its stake in Eversource Energy by 2.9% in the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after buying an additional 176 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.
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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