Ironwood Investment Counsel LLC Makes New $1.17 Million Investment in Eversource Energy $ES

Ironwood Investment Counsel LLC purchased a new stake in Eversource Energy (NYSE:ES) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,426 shares of the utilities provider’s stock, valued at approximately $1,172,000.

Other large investors have also recently modified their holdings of the company. Ballentine Partners LLC increased its holdings in Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System lifted its holdings in Eversource Energy by 2.1% during the 1st quarter. Arizona State Retirement System now owns 105,958 shares of the utilities provider’s stock worth $6,581,000 after buying an additional 2,155 shares during the period. New York State Common Retirement Fund grew its position in shares of Eversource Energy by 12.7% in the 1st quarter. New York State Common Retirement Fund now owns 710,560 shares of the utilities provider’s stock valued at $44,133,000 after buying an additional 80,100 shares during the last quarter. Stephens Inc. AR bought a new stake in shares of Eversource Energy in the 1st quarter valued at about $2,717,000. Finally, CWM LLC increased its stake in shares of Eversource Energy by 14.8% in the first quarter. CWM LLC now owns 41,257 shares of the utilities provider’s stock valued at $2,562,000 after buying an additional 5,330 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $73.27 on Wednesday. The firm has a market capitalization of $27.49 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.60 and a beta of 0.69. The firm’s 50-day moving average price is $70.17 and its 200-day moving average price is $66.31. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same period last year, the business posted $1.13 EPS. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s payout ratio is currently 82.47%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Jefferies Financial Group boosted their price target on shares of Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. Finally, Wells Fargo & Company initiated coverage on shares of Eversource Energy in a research note on Tuesday, October 28th. They set an “overweight” rating and a $79.00 target price for the company. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.70.

Insider Buying and Selling

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Loretta D. Keane acquired 3,780 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The SEC filing for this purchase provides additional information. 0.19% of the stock is owned by corporate insiders.

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.