Union Savings Bank Has $830,000 Position in Eversource Energy $ES

Union Savings Bank cut its holdings in shares of Eversource Energy (NYSE:ES) by 11.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,564 shares of the utilities provider’s stock after selling 1,550 shares during the period. Union Savings Bank’s holdings in Eversource Energy were worth $830,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its stake in shares of Eversource Energy by 75.4% during the second quarter. Cetera Investment Advisers now owns 198,424 shares of the utilities provider’s stock valued at $12,624,000 after acquiring an additional 85,297 shares during the last quarter. SG Americas Securities LLC increased its holdings in Eversource Energy by 49.7% in the second quarter. SG Americas Securities LLC now owns 13,323 shares of the utilities provider’s stock valued at $848,000 after purchasing an additional 4,426 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Eversource Energy by 1.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 707,289 shares of the utilities provider’s stock valued at $44,998,000 after purchasing an additional 7,094 shares during the period. Empower Advisory Group LLC raised its position in Eversource Energy by 8.2% during the 2nd quarter. Empower Advisory Group LLC now owns 1,248,537 shares of the utilities provider’s stock worth $79,432,000 after purchasing an additional 94,971 shares during the last quarter. Finally, Intrua Financial LLC lifted its holdings in Eversource Energy by 52.9% during the 2nd quarter. Intrua Financial LLC now owns 12,837 shares of the utilities provider’s stock worth $817,000 after buying an additional 4,442 shares during the period. 79.99% of the stock is owned by institutional investors.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president directly owned 32,415 shares in the company, valued at $2,358,839.55. This trade represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Performance

Shares of ES stock opened at $73.31 on Friday. The firm has a 50 day moving average of $70.78 and a 200-day moving average of $66.51. The company has a market cap of $27.51 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 2.64 and a beta of 0.69. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the company posted $1.13 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio is 82.47%.

Analysts Set New Price Targets

ES has been the subject of several recent research reports. UBS Group cut Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research note on Thursday, November 6th. Wells Fargo & Company assumed coverage on Eversource Energy in a report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 target price on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. BMO Capital Markets dropped their price target on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Finally, Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $72.70.

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.