Baird Financial Group Inc. Purchases 18,811 Shares of Eversource Energy $ES

Baird Financial Group Inc. grew its holdings in Eversource Energy (NYSE:ES) by 43.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 62,592 shares of the utilities provider’s stock after acquiring an additional 18,811 shares during the quarter. Baird Financial Group Inc.’s holdings in Eversource Energy were worth $3,982,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. PDS Planning Inc increased its position in Eversource Energy by 4.7% in the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after buying an additional 173 shares during the period. Avidian Wealth Enterprises LLC grew its stake in shares of Eversource Energy by 2.9% in the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock worth $393,000 after acquiring an additional 176 shares during the last quarter. Thrive Wealth Management LLC increased its position in Eversource Energy by 3.6% during the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock worth $346,000 after acquiring an additional 189 shares during the period. Penobscot Investment Management Company Inc. increased its position in Eversource Energy by 1.4% during the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 195 shares during the period. Finally, Hantz Financial Services Inc. raised its stake in Eversource Energy by 17.9% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock valued at $82,000 after purchasing an additional 195 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Down 0.3%

NYSE:ES opened at $67.60 on Thursday. The company has a market cap of $25.36 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 2.41 and a beta of 0.76. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The stock’s fifty day moving average price is $70.90 and its two-hundred day moving average price is $67.21. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm earned $1.13 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be given a $0.7525 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. Eversource Energy’s payout ratio is currently 82.47%.

Insider Transactions at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction that occurred on 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 owned 32,415 shares in the company, valued at $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 the SEC website. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

ES has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. 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. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Scotiabank lowered their price objective on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Thursday, November 20th. Finally, Wells Fargo & Company cut Eversource Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $79.00 to $63.00 in a research report on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $70.55.

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.