Pine Haven Investment Counsel Inc Makes New Investment in Eversource Energy (NYSE:ES)

Pine Haven Investment Counsel Inc acquired a new stake in shares of Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,451 shares of the utilities provider’s stock, valued at approximately $235,000.

Several other hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after buying an additional 1,524,341 shares during the period. Public Sector Pension Investment Board lifted its stake in Eversource Energy by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after acquiring an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Eversource Energy by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after acquiring an additional 354,429 shares during the period. ClearBridge Investments Ltd purchased a new position in Eversource Energy during the 1st quarter valued at about $156,093,000. Finally, Zimmer Partners LP increased its holdings in shares of Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after purchasing an additional 2,231,585 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ES. Mizuho raised their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. BMO Capital Markets lifted their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “market perform” rating in a research note on Thursday, October 3rd. Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $70.00.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction 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 approximately $591,596. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $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. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Performance

Eversource Energy stock traded down $0.05 during trading hours on Friday, reaching $63.81. 583,343 shares of the company were exchanged, compared to its average volume of 2,423,066. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The stock has a 50-day moving average of $66.50 and a 200 day moving average of $61.97. The firm has a market cap of $22.81 billion, a price-to-earnings ratio of -235.37, a PEG ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $1.00 earnings per share. Eversource Energy’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio 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.