Legacy Wealth Management LLC MS Sells 2,435 Shares of Eversource Energy (NYSE:ES)

Legacy Wealth Management LLC MS lessened its holdings in shares of Eversource Energy (NYSE:ES) by 11.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,230 shares of the utilities provider’s stock after selling 2,435 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Eversource Energy were worth $1,309,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ES. Wealth Enhancement Advisory Services LLC raised its stake in Eversource Energy by 1.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 53,820 shares of the utilities provider’s stock valued at $3,052,000 after acquiring an additional 678 shares during the period. ORG Partners LLC bought a new position in shares of Eversource Energy in the second quarter valued at about $83,000. Blue Trust Inc. lifted its stake in shares of Eversource Energy by 41.0% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the utilities provider’s stock worth $60,000 after buying an additional 290 shares during the last quarter. Brookstone Capital Management boosted its holdings in shares of Eversource Energy by 9.7% during the 2nd quarter. Brookstone Capital Management now owns 26,825 shares of the utilities provider’s stock worth $1,651,000 after buying an additional 2,379 shares during the period. Finally, Raymond James & Associates grew its stake in Eversource Energy by 2.1% in the 2nd quarter. Raymond James & Associates now owns 170,963 shares of the utilities provider’s stock valued at $9,695,000 after buying an additional 3,475 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on ES. BMO Capital Markets decreased their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Barclays lifted their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the company from $66.00 to $56.00 in a research note on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.38.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded up $0.28 on Friday, reaching $60.07. 258,119 shares of the stock were exchanged, compared to its average volume of 2,360,850. The firm’s 50 day moving average is $63.29 and its 200-day moving average is $63.06. The firm has a market cap of $22.01 billion, a PE ratio of -38.08, a P/E/G ratio of 2.40 and a beta of 0.60. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a one year low of $52.09 and a one year high of $69.01.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the company earned $0.97 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is presently -182.17%.

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.