Keynote Financial Services LLC Raises Stock Holdings in Eversource Energy $ES

Keynote Financial Services LLC lifted its stake in Eversource Energy (NYSE:ES) by 12.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,459 shares of the utilities provider’s stock after buying an additional 933 shares during the quarter. Keynote Financial Services LLC’s holdings in Eversource Energy were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC boosted its position in shares of Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock worth $369,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System lifted its stake in shares of Eversource Energy by 2.1% during the 1st quarter. Arizona State Retirement System now owns 105,958 shares of the utilities provider’s stock valued at $6,581,000 after buying an additional 2,155 shares in the last quarter. New York State Common Retirement Fund lifted its stake in shares of Eversource Energy by 12.7% during the 1st quarter. New York State Common Retirement Fund now owns 710,560 shares of the utilities provider’s stock valued at $44,133,000 after buying an additional 80,100 shares in the last quarter. Stephens Inc. AR bought a new position in Eversource Energy in the 1st quarter worth $2,717,000. Finally, CWM LLC increased its stake in Eversource Energy by 14.8% in the 1st quarter. CWM LLC now owns 41,257 shares of the utilities provider’s stock worth $2,562,000 after buying an additional 5,330 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ES. Wells Fargo & Company assumed coverage on Eversource Energy in a research report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 target price for the company. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Thursday, November 6th. TD Cowen assumed coverage on shares of Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. Finally, Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus price target of $72.70.

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.19% of the company’s stock.

Eversource Energy Stock Down 0.8%

Shares of NYSE:ES opened at $72.45 on Tuesday. The company has a market cap of $26.89 billion, a price-to-earnings ratio of 19.85, a PEG ratio of 2.62 and a beta of 0.69. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. 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 company has a 50-day moving average price of $69.98 and a 200 day moving average price of $66.20.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping 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 company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm posted $1.13 earnings per share. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio is presently 82.47%.

Eversource Energy Company 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.