Ballentine Partners LLC Purchases 277 Shares of Eversource Energy (NYSE:ES)

Ballentine Partners LLC lifted its stake in Eversource Energy (NYSE:ES) by 4.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,934 shares of the utilities provider’s stock after acquiring an additional 277 shares during the quarter. Ballentine Partners LLC’s holdings in Eversource Energy were worth $369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ES. Mizuho Bank Ltd. acquired a new position in Eversource Energy during the fourth quarter worth approximately $26,000. Pinney & Scofield Inc. acquired a new position in Eversource Energy during the fourth quarter worth approximately $33,000. Rossby Financial LCC acquired a new position in Eversource Energy during the first quarter worth approximately $34,000. CoreCap Advisors LLC increased its position in Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider’s stock worth $35,000 after buying an additional 383 shares during the last quarter. Finally, First Financial Corp IN increased its position in Eversource Energy by 3,529.4% during the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider’s stock worth $38,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the company’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the sale, the executive vice president directly owned 10,988 shares in the company, valued at $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ES. Wall Street Zen upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Mizuho boosted their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. BMO Capital Markets boosted their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $65.67.

Eversource Energy Trading Down 1.0%

Shares of ES stock opened at $64.72 on Wednesday. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. The stock has a market cap of $23.78 billion, a P/E ratio of 27.90, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62. The stock has a 50 day simple moving average of $64.05 and a 200 day simple moving average of $60.82. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 earnings per share. On average, research analysts predict 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 was paid on Monday, June 30th. Investors of record on Thursday, May 15th were paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.65%. The ex-dividend date of this dividend was Thursday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is currently 129.74%.

About Eversource Energy

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.