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

Pathway Financial Advisers LLC lifted its position in Eversource Energy (NYSE:ES - Free Report) by 6,705.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its position in Eversource Energy by 14.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider's stock worth $90,000 after purchasing an additional 169 shares in the last quarter. Addison Advisors LLC grew its position in Eversource Energy by 27.4% during the 2nd 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 increased its holdings in Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider's stock valued at $271,000 after purchasing an additional 190 shares in the last quarter. Avantax Advisory Services Inc. raised its position in Eversource Energy by 2.5% in the 1st 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. boosted 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 worth $35,000 after purchasing an additional 198 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Eversource Energy Stock Up 1.5 %

ES stock traded up $0.94 during mid-day trading on Wednesday, reaching $65.49. The company had a trading volume of 2,212,143 shares, compared to its average volume of 2,387,877. The company has a market capitalization of $23.41 billion, a price-to-earnings ratio of -242.56, a PEG ratio of 2.56 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The stock has a 50 day simple moving average of $66.51 and a two-hundred day simple moving average of $62.66.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company's revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 earnings per share. As a group, equities analysts predict that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business 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. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.37%. Eversource Energy's dividend payout ratio is presently -1,059.26%.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares in the company, 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. 0.29% of the stock is owned by insiders.

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.