Summit Investment Advisors Inc. Has $222,000 Stake in Eversource Energy $ES

Summit Investment Advisors Inc. lowered its holdings in Eversource Energy (NYSE:ES) by 74.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,570 shares of the utilities provider’s stock after selling 10,306 shares during the period. Summit Investment Advisors Inc.’s holdings in Eversource Energy were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ES. AE Wealth Management LLC raised its position in shares of Eversource Energy by 382.2% in the second quarter. AE Wealth Management LLC now owns 288,828 shares of the utilities provider’s stock valued at $18,375,000 after buying an additional 228,933 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Eversource Energy during the 2nd quarter worth $749,000. Harvest Portfolios Group Inc. increased its stake in Eversource Energy by 13.6% during the 2nd quarter. Harvest Portfolios Group Inc. now owns 115,384 shares of the utilities provider’s stock worth $7,341,000 after acquiring an additional 13,841 shares during the period. Savant Capital LLC raised its holdings in Eversource Energy by 13.9% in the 2nd quarter. Savant Capital LLC now owns 13,869 shares of the utilities provider’s stock valued at $882,000 after acquiring an additional 1,692 shares in the last quarter. Finally, Sound Financial Strategies Group LLC bought a new stake in shares of Eversource Energy during the 2nd quarter valued at $721,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock opened at $73.31 on Friday. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 2.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The company has a 50 day simple moving average of $70.78 and a 200 day simple moving average of $66.56. 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.13 earnings per share. Research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

Insiders Place Their Bets

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Loretta D. Keane bought 3,780 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

ES has been the topic of a number of recent analyst reports. BMO Capital Markets decreased their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Finally, Wells Fargo & Company started coverage on shares of Eversource Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price target for the company. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $72.70.

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.