Brighton Jones LLC Acquires 7,488 Shares of Eversource Energy $ES

Brighton Jones LLC lifted its stake in Eversource Energy (NYSE:ES) by 223.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,838 shares of the utilities provider’s stock after buying an additional 7,488 shares during the period. Brighton Jones LLC’s holdings in Eversource Energy were worth $771,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new stake in Eversource Energy in the 2nd quarter worth approximately $26,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Eversource Energy in the 2nd quarter worth about $28,000. Elevation Point Wealth Partners LLC bought a new position in shares of Eversource Energy during the second quarter valued at approximately $31,000. Hilltop National Bank bought a new position in Eversource Energy during the 2nd quarter valued at approximately $32,000. Finally, Anchor Investment Management LLC raised its position in shares of Eversource Energy by 122.0% in the 2nd quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.2%

Shares of NYSE ES opened at $67.16 on Friday. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. 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 business has a fifty day simple moving average of $69.86 and a two-hundred day simple moving average of $67.40. The firm has a market cap of $25.20 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.39 and a beta of 0.76.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.13 EPS. Analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

Insider Buying and Selling

In other news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. TD Cowen initiated coverage on Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price target for the company. Bank of America raised 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 note on Tuesday, October 21st. BMO Capital Markets lowered their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Finally, Scotiabank decreased their price target on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.27.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.