Atlantic Union Bankshares Corp Takes Position in Eversource Energy $ES

Atlantic Union Bankshares Corp purchased a new stake in Eversource Energy (NYSE:ES) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,091 shares of the utilities provider’s stock, valued at approximately $197,000.

A number of other hedge funds have also recently added to or reduced their stakes in ES. PDS Planning Inc grew its position in Eversource Energy by 4.7% in the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after acquiring an additional 173 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its stake in shares of Eversource Energy by 2.9% in the 2nd quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 176 shares during the last quarter. Thrive Wealth Management LLC boosted its holdings in Eversource Energy by 3.6% in the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 189 shares in the last quarter. Penobscot Investment Management Company Inc. increased its position in Eversource Energy by 1.4% during the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after buying an additional 195 shares during the last quarter. Finally, Hantz Financial Services Inc. increased its position in Eversource Energy by 17.9% during the second quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock worth $82,000 after buying an additional 195 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Ratings Changes

ES has been the subject of a number of analyst reports. Mizuho boosted their price target on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. BMO Capital Markets cut their price objective on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday. TD Cowen initiated coverage on Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price for the company. UBS Group downgraded Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a report on Thursday. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and an average price target of $72.70.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $73.07 on Monday. The company has a market cap of $27.12 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.62 and a beta of 0.69. The business has a 50 day moving average price of $69.81 and a 200 day moving average price of $66.10. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the previous year, the business posted $1.13 EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

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

Insiders Place Their Bets

In related news, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

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.