WASHINGTON TRUST Co Has $381,000 Stock Position in Eversource Energy $ES

WASHINGTON TRUST Co raised its position in Eversource Energy (NYSE:ES) by 148.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,985 shares of the utilities provider’s stock after buying an additional 3,575 shares during the period. WASHINGTON TRUST Co’s holdings in Eversource Energy were worth $381,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new position in shares of Eversource Energy in the 2nd quarter worth approximately $28,000. Hilltop National Bank acquired a new stake in Eversource Energy during the 2nd quarter valued at $32,000. True Wealth Design LLC raised its position in Eversource Energy by 540.0% in the 2nd quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 513 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Eversource Energy during the first quarter worth $46,000. Finally, Bogart Wealth LLC grew its holdings in shares of Eversource Energy by 100.9% during the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 466 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Insider Transactions at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Loretta D. Keane bought 3,780 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

ES has been the topic of several research reports. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. BMO Capital Markets decreased their price target on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. Scotiabank boosted their price objective on shares of Eversource Energy from $55.00 to $64.00 and gave the stock a “sector underperform” rating in a research report on Wednesday, November 5th. Wells Fargo & Company began coverage on Eversource Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective on the stock. Finally, Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $73.00 to $85.00 in a research note on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.70.

Eversource Energy Price Performance

ES opened at $73.63 on Friday. The company has a fifty day moving average price of $70.58 and a two-hundred day moving average price of $66.41. The firm has a market capitalization of $27.63 billion, a PE ratio of 20.17, a P/E/G ratio of 2.64 and a beta of 0.69. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) 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 business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the company earned $1.13 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s 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.