Modera Wealth Management LLC Reduces Position in Eversource Energy (NYSE:ES)

Modera Wealth Management LLC lessened its position in shares of Eversource Energy (NYSE:ES) by 6.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,049 shares of the utilities provider’s stock after selling 384 shares during the quarter. Modera Wealth Management LLC’s holdings in Eversource Energy were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ES. Lynx Investment Advisory purchased a new position in Eversource Energy during the 2nd quarter worth approximately $25,000. UMB Bank n.a. grew its stake in shares of Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Manchester Capital Management LLC grew its stake in shares of Eversource Energy by 83.6% in the 1st quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 276 shares during the last quarter. Salomon & Ludwin LLC grew its stake in shares of Eversource Energy by 4,187.5% in the 1st quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 670 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Eversource Energy in the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES stock opened at $64.55 on Wednesday. The stock has a fifty day moving average price of $66.53 and a 200 day moving average price of $62.64. The stock has a market cap of $23.07 billion, a PE ratio of -239.07, a P/E/G ratio of 2.56 and a beta of 0.61. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts forecast that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.43%. Eversource Energy’s dividend payout ratio (DPR) is -1,059.26%.

Analyst Ratings Changes

ES has been the topic of several analyst reports. Scotiabank lifted their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Wells Fargo & Company lifted their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Bank of America lifted their target price on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Mizuho lifted their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays raised their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $70.07.

Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.