Patrick M Sweeney & Associates Inc. Makes New $216,000 Investment in Eversource Energy (NYSE:ES)

Patrick M Sweeney & Associates Inc. acquired a new stake in Eversource Energy (NYSE:ES) during the third quarter, Holdings Channel reports. The institutional investor acquired 3,174 shares of the utilities provider’s stock, valued at approximately $216,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its stake in Eversource Energy by 14.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after buying an additional 169 shares during the last quarter. Addison Advisors LLC increased its position in shares of Eversource Energy by 27.4% in the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 185 shares during the last quarter. Bar Harbor Wealth Management raised its holdings in Eversource Energy by 4.1% during the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 190 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 192 shares during the last quarter. Finally, UMB Bank n.a. grew its stake in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Eversource Energy stock opened at $67.09 on Thursday. The company has a market capitalization of $23.63 billion, a price-to-earnings ratio of -56.86, a PEG ratio of 2.49 and a beta of 0.61. The stock’s 50 day moving average is $66.49 and its 200-day moving average is $62.43. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01.

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

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -242.37%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ES. Bank of America upped their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Mizuho increased their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Scotiabank lifted their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Barclays upped their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $70.07.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.