abrdn plc Sells 56,797 Shares of Eversource Energy (NYSE:ES)

abrdn plc lessened its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 698,632 shares of the utilities provider's stock after selling 56,797 shares during the quarter. abrdn plc owned 0.20% of Eversource Energy worth $47,493,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Lynx Investment Advisory purchased a new stake in shares of Eversource Energy during the second quarter worth about $25,000. UMB Bank n.a. increased 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 buying an additional 198 shares during the last quarter. Manchester Capital Management LLC increased its holdings in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider's stock valued at $36,000 after buying an additional 276 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in Eversource Energy by 4,187.5% in the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider's stock valued at $41,000 after buying an additional 670 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of Eversource Energy during the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 79.99% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, August 23rd. Bank of America boosted their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Wednesday. Finally, Scotiabank upped their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy has an average rating of "Hold" and a consensus price target of $70.07.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the company's stock in a transaction 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 transaction, the executive vice president now directly owns 9,847 shares of the company's stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Penelope M. Conner sold 815 shares of the company's 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 transaction, the executive vice president now directly owns 9,032 shares of the company's stock, valued at approximately $591,596. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Penelope M. Conner sold 500 shares of the company's stock in a transaction on Friday, August 9th. The stock was 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 $639,464.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Eversource Energy Stock Up 0.5 %

NYSE:ES traded up $0.35 during trading hours on Thursday, hitting $65.84. 3,621,729 shares of the stock traded hands, compared to its average volume of 2,393,724. The firm has a 50 day moving average price of $66.48 and a 200 day moving average price of $62.68. 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 fifty-two week low of $52.03 and a fifty-two week high of $69.01. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of -243.85, a PEG ratio of 2.56 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the business earned $1.00 EPS. The company's revenue was down 3.7% on a year-over-year basis. Equities research analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy's dividend payout ratio (DPR) is currently -1,059.26%.

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.