Soltis Investment Advisors LLC Takes Position in Eversource Energy (NYSE:ES)

Soltis Investment Advisors LLC purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 53,136 shares of the utilities provider's stock, valued at approximately $3,616,000.

A number of other hedge funds also recently modified their holdings of the business. Sequoia Financial Advisors LLC raised its position in Eversource Energy by 4.3% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 17,378 shares of the utilities provider's stock worth $986,000 after purchasing an additional 718 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Eversource Energy by 1.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,820 shares of the utilities provider's stock worth $3,052,000 after acquiring an additional 678 shares during the last quarter. ORG Partners LLC bought a new stake in Eversource Energy in the second quarter valued at approximately $83,000. Welch Group LLC acquired a new stake in Eversource Energy during the 2nd quarter valued at approximately $337,000. Finally, Brown Lisle Cummings Inc. raised its holdings in Eversource Energy by 289.9% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 2,316 shares of the utilities provider's stock worth $131,000 after purchasing an additional 1,722 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ES shares. Morgan Stanley increased their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, August 23rd. Jefferies Financial Group initiated coverage on Eversource Energy in a research report on Tuesday, December 3rd. They issued an "underperform" rating and a $52.00 price objective for the company. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Finally, Scotiabank boosted their price target on Eversource Energy from $57.00 to $66.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, Eversource Energy presently has an average rating of "Hold" and an average target price of $69.15.

Eversource Energy Stock Down 0.9 %

Shares of Eversource Energy stock traded down $0.54 during trading hours on Wednesday, reaching $60.00. The company's stock had a trading volume of 1,987,892 shares, compared to its average volume of 2,370,695. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The stock's fifty day simple moving average is $63.54 and its two-hundred day simple moving average is $63.10. The company has a market capitalization of $21.98 billion, a P/E ratio of -38.56, a P/E/G ratio of 2.39 and a beta of 0.60. Eversource Energy has a one year low of $52.09 and a one year high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $1.08 by $0.05. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The company's revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.97 EPS. On average, research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 4.77%. The ex-dividend date of this dividend is Wednesday, December 18th. Eversource Energy's payout ratio is currently -182.17%.

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.