Cadence Wealth Management LLC Takes Position in Eversource Energy (NYSE:ES)

Cadence Wealth Management LLC bought a new position in Eversource Energy (NYSE:ES) in the third quarter, HoldingsChannel.com reports. The fund bought 3,521 shares of the utilities provider’s stock, valued at approximately $240,000.

Several other hedge funds and other institutional investors have also modified their holdings of ES. Lynx Investment Advisory acquired a new position in Eversource Energy during the second quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in shares of Eversource Energy in the 3rd quarter worth about $32,000. UMB Bank n.a. increased its position in shares of Eversource Energy by 62.9% during the 3rd 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. Pathway Financial Advisers LLC bought a new position in Eversource Energy during the 1st quarter valued at about $43,000. Finally, MFA Wealth Advisors LLC acquired a new position in Eversource Energy in the third quarter valued at about $48,000. Institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America raised their price objective 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. Morgan Stanley raised their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. BMO Capital Markets reduced their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Mizuho upped their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $70.46.

Eversource Energy Stock Up 1.0 %

Shares of NYSE ES opened at $61.47 on Friday. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. 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 company’s 50 day simple moving average is $65.48 and its 200 day simple moving average is $62.84.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the prior year, the business posted $0.97 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

Eversource Energy 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.