Steward Partners Investment Advisory LLC Purchases New Position in Eversource Energy (ES)

Steward Partners Investment Advisory LLC purchased a new stake in Eversource Energy (NYSE:ES) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,858 shares of the utilities provider’s stock, valued at approximately $716,000.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Eversource Energy by 2.4% during the second quarter. Vanguard Group Inc. now owns 33,055,292 shares of the utilities provider’s stock valued at $2,006,787,000 after acquiring an additional 781,327 shares during the period. BlackRock Inc. increased its stake in shares of Eversource Energy by 1.6% during the second quarter. BlackRock Inc. now owns 24,355,049 shares of the utilities provider’s stock valued at $1,478,596,000 after acquiring an additional 374,229 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Eversource Energy by 3.4% during the third quarter. Bank of New York Mellon Corp now owns 15,936,793 shares of the utilities provider’s stock valued at $963,220,000 after acquiring an additional 516,965 shares during the period. Legal & General Group Plc increased its stake in shares of Eversource Energy by 5.4% during the third quarter. Legal & General Group Plc now owns 2,801,473 shares of the utilities provider’s stock valued at $169,322,000 after acquiring an additional 144,185 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Eversource Energy by 14.4% during the third quarter. American Century Companies Inc. now owns 2,653,302 shares of the utilities provider’s stock valued at $160,366,000 after acquiring an additional 333,139 shares during the period. Institutional investors own 72.21% of the company’s stock.

In related news, COO Werner J. Schweiger sold 10,098 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Eversource Energy (ES) traded up $0.31 during trading on Friday, reaching $64.62. 2,694,491 shares of the company’s stock traded hands, compared to its average volume of 1,716,272. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.80 and a current ratio of 0.92. The firm has a market capitalization of $20,480.34, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 3.49 and a beta of 0.31. Eversource Energy has a 12-month low of $53.72 and a 12-month high of $66.15.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.83 EPS. analysts predict that Eversource Energy will post 3.14 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Monday, December 18th will be paid a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Friday, December 15th. Eversource Energy’s dividend payout ratio is 61.69%.

Several research firms have issued reports on ES. Credit Suisse Group lifted their price target on shares of Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. Williams Capital lifted their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Bank of America began coverage on shares of Eversource Energy in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 price target on the stock. Morgan Stanley lifted their price target on shares of Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. Finally, Zacks Investment Research lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Eversource Energy presently has an average rating of “Hold” and an average price target of $64.50.

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Eversource Energy Profile

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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