Osaic Holdings Inc. Raises Position in Eversource Energy $ES

Osaic Holdings Inc. increased its stake in Eversource Energy (NYSE:ES) by 60.3% in the second quarter, HoldingsChannel reports. The fund owned 170,983 shares of the utilities provider’s stock after purchasing an additional 64,333 shares during the period. Osaic Holdings Inc.’s holdings in Eversource Energy were worth $10,828,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Neo Ivy Capital Management purchased a new position in Eversource Energy during the 2nd quarter valued at about $26,000. Trust Co. of Toledo NA OH purchased a new position in Eversource Energy during the second quarter valued at $28,000. Elevation Point Wealth Partners LLC bought a new stake in Eversource Energy during the second quarter worth about $31,000. Hilltop National Bank purchased a new stake in Eversource Energy in the second quarter worth about $32,000. Finally, Anchor Investment Management LLC increased its stake in shares of Eversource Energy by 122.0% during the second quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was 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 directly owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 1.2%

Shares of Eversource Energy stock opened at $67.15 on Friday. 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 has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The company has a fifty day moving average of $70.23 and a 200 day moving average of $67.36. The company has a market capitalization of $25.19 billion, a P/E ratio of 18.40, a P/E/G ratio of 2.42 and a beta of 0.76.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.13 EPS. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.7525 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.01 annualized dividend and a yield of 4.5%. Eversource Energy’s payout ratio is presently 82.47%.

Analysts Set New Price Targets

Several equities research analysts have commented on ES shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Mizuho reiterated a “neutral” rating and issued a $68.00 price target (down from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Scotiabank decreased their target price on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a research note on Thursday, November 20th. UBS Group lowered their price objective on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $71.27.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.