Commonwealth Equity Services LLC Has $18.69 Million Position in Eversource Energy $ES

Commonwealth Equity Services LLC lessened its stake in Eversource Energy (NYSE:ES) by 7.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 262,645 shares of the utilities provider’s stock after selling 20,326 shares during the period. Commonwealth Equity Services LLC’s holdings in Eversource Energy were worth $18,685,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Earned Wealth Advisors LLC bought a new stake in Eversource Energy in the third quarter valued at approximately $209,000. Asset Management One Co. Ltd. lifted its position in shares of Eversource Energy by 5.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 161,876 shares of the utilities provider’s stock worth $11,516,000 after purchasing an additional 8,574 shares during the period. BetterWealth LLC bought a new stake in shares of Eversource Energy in the 3rd quarter valued at $1,351,000. Global Retirement Partners LLC increased its position in shares of Eversource Energy by 3.4% during the third quarter. Global Retirement Partners LLC now owns 7,753 shares of the utilities provider’s stock worth $552,000 after buying an additional 252 shares during the period. Finally, Synergy Asset Management LLC increased its position in shares of Eversource Energy by 287.7% during the third quarter. Synergy Asset Management LLC now owns 160,322 shares of the utilities provider’s stock worth $10,783,000 after buying an additional 118,971 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Performance

NYSE ES opened at $67.78 on Friday. The company has a market cap of $25.43 billion, a P/E ratio of 18.57, a PEG ratio of 2.29 and a beta of 0.76. The company has a fifty day simple moving average of $68.44 and a 200 day simple moving average of $67.64. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion for 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 business’s quarterly revenue 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 predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a $0.7525 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 annualized dividend and a dividend yield of 4.4%. Eversource Energy’s dividend payout ratio is 82.47%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group cut their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Mizuho reaffirmed a “neutral” rating and set a $68.00 target price (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. BMO Capital Markets lowered their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Finally, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.27.

Insider Buying and Selling at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction that occurred on Friday, November 7th. The stock was 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 of the company’s stock, valued at $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Company Profile

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.