Cadence Wealth Management LLC Buys New Stake in Eversource Energy (NYSE:ES)

Cadence Wealth Management LLC purchased a new position in Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,521 shares of the utilities provider’s stock, valued at approximately $240,000.

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

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays raised their price target 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. Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Morgan Stanley raised their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, BMO Capital Markets reduced their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.46.

Eversource Energy Stock Up 1.0 %

NYSE:ES opened at $61.47 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The company has a fifty day moving average price of $65.48 and a 200 day moving average price of $62.84. 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 analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $0.97 earnings per share. As a group, equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced 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 4.65%. Eversource Energy’s payout ratio is -182.17%.

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.