Investors Buy Shares of Eversource Energy (ES) on Weakness

Investors purchased shares of Eversource Energy (NYSE:ES) on weakness during trading on Thursday. $29.56 million flowed into the stock on the tick-up and $15.18 million flowed out of the stock on the tick-down, for a money net flow of $14.38 million into the stock. Of all stocks tracked, Eversource Energy had the 31st highest net in-flow for the day. Eversource Energy traded down ($0.20) for the day and closed at $64.91

A number of research analysts recently weighed in on ES shares. Morgan Stanley raised their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. BidaskClub raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Credit Suisse Group raised their target price on shares of Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a research report on Monday, October 2nd. Williams Capital increased their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Finally, Bank of America began coverage on shares of Eversource Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Eversource Energy has a consensus rating of “Hold” and an average target price of $64.06.

The stock has a market capitalization of $20,559.55, a P/E ratio of 21.07, a P/E/G ratio of 3.48 and a beta of 0.31. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.02). The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.83 EPS. sell-side analysts predict that Eversource Energy will post 3.15 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders 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 2.93%. The ex-dividend date of this dividend is Friday, December 15th. Eversource Energy’s dividend payout ratio is currently 61.69%.

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

Hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC lifted its stake in shares of Eversource Energy by 1.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after buying an additional 32 shares during the last quarter. Risk Paradigm Group LLC lifted its stake in shares of Eversource Energy by 111.7% during the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock worth $128,000 after buying an additional 1,117 shares during the last quarter. Sun Life Financial INC lifted its stake in shares of Eversource Energy by 23,040.0% during the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after buying an additional 2,304 shares during the last quarter. WFG Advisors LP lifted its stake in shares of Eversource Energy by 127.8% during the 2nd quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after buying an additional 1,380 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Eversource Energy by 63.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after buying an additional 1,265 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.

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Eversource Energy Company 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.

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