AE Wealth Management LLC Acquires 20,188 Shares of Eversource Energy $ES

AE Wealth Management LLC lifted its stake in Eversource Energy (NYSE:ES) by 7.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,016 shares of the utilities provider’s stock after purchasing an additional 20,188 shares during the period. AE Wealth Management LLC’s holdings in Eversource Energy were worth $21,983,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Neo Ivy Capital Management purchased a new stake in Eversource Energy in the second quarter worth about $26,000. Root Financial Partners LLC purchased a new stake in Eversource Energy in the 3rd quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Eversource Energy in the 3rd quarter worth approximately $27,000. Trust Co. of Toledo NA OH bought a new stake in Eversource Energy during the 2nd quarter worth approximately $28,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Eversource Energy during the second quarter valued at approximately $31,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 1.5%

Shares of ES stock opened at $68.88 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $25.84 billion, a price-to-earnings ratio of 18.87, a price-to-earnings-growth ratio of 2.37 and a beta of 0.76. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The stock’s 50-day moving average price is $67.84 and its 200-day moving average price is $68.18.

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

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be issued a $0.7875 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, March 5th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.6%. Eversource Energy’s payout ratio is presently 82.47%.

Analyst Ratings Changes

A number of analysts have recently issued reports on ES shares. 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. UBS Group dropped their target price on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Finally, Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $71.50.

Eversource Energy 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.