Armstrong Advisory Group Inc. Trims Stock Holdings in Eversource Energy (NYSE:ES)

Armstrong Advisory Group Inc. decreased its holdings in shares of Eversource Energy (NYSE:ES) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,415 shares of the utilities provider’s stock after selling 243 shares during the period. Armstrong Advisory Group Inc.’s holdings in Eversource Energy were worth $845,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Eversource Energy by 24.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock valued at $4,232,000 after buying an additional 13,950 shares during the period. Banque Cantonale Vaudoise grew its position in Eversource Energy by 38.3% during the 1st quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock valued at $3,394,000 after purchasing an additional 15,714 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in Eversource Energy by 76.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 323,402 shares of the utilities provider’s stock worth $19,330,000 after acquiring an additional 140,558 shares during the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Eversource Energy by 6.1% during the first quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock valued at $38,631,000 after purchasing an additional 37,219 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Eversource Energy by 62.9% during the 1st quarter. Sei Investments Co. now owns 460,399 shares of the utilities provider’s stock valued at $27,518,000 after acquiring an additional 177,692 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the topic of several recent research reports. Morgan Stanley increased their price target 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. BMO Capital Markets upped 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 report on Thursday, October 3rd. Wells Fargo & Company boosted their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Mizuho upped their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Bank of America boosted 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $70.00.

Eversource Energy Stock Performance

NYSE ES opened at $63.82 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The business has a 50 day moving average price of $66.43 and a 200 day moving average price of $62.08. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The company has a market capitalization of $22.48 billion, a P/E ratio of -54.08, a PEG ratio of 2.47 and a beta of 0.61.

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

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors 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 4.48%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the business’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 transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Eversource Energy Company 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.