Pathway Financial Advisers LLC Boosts Holdings in Eversource Energy (NYSE:ES)

Pathway Financial Advisers LLC lifted its position in shares of Eversource Energy (NYSE:ES) by 6,705.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,452 shares of the utilities provider’s stock after buying an additional 47,740 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Eversource Energy were worth $3,297,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ES. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Eversource Energy by 0.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 878,968 shares of the utilities provider’s stock worth $52,536,000 after buying an additional 3,407 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Eversource Energy during the first quarter worth about $461,000. First Trust Direct Indexing L.P. grew its holdings in shares of Eversource Energy by 53.4% during the first quarter. First Trust Direct Indexing L.P. now owns 6,955 shares of the utilities provider’s stock worth $416,000 after buying an additional 2,420 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in shares of Eversource Energy by 1.5% during the first quarter. Maryland State Retirement & Pension System now owns 325,077 shares of the utilities provider’s stock worth $18,694,000 after buying an additional 4,761 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in shares of Eversource Energy during the first quarter worth about $264,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Trading Down 2.9 %

NYSE ES opened at $64.55 on Wednesday. The company’s fifty day simple moving average is $66.53 and its 200-day simple moving average is $62.64. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a market cap of $23.07 billion, a P/E ratio of -239.07, a PEG ratio of 2.56 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.00 earnings per share. Equities research analysts predict that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a $0.715 dividend. The ex-dividend date 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 presently -1,059.26%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ES. Morgan Stanley boosted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Mizuho boosted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Scotiabank boosted their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Wells Fargo & Company boosted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.