CreativeOne Wealth LLC Invests $242,000 in Eversource Energy $ES

CreativeOne Wealth LLC acquired a new stake in shares of Eversource Energy (NYSE:ES) in the second quarter, Holdings Channel reports. The firm acquired 3,809 shares of the utilities provider’s stock, valued at approximately $242,000.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in shares of Eversource Energy by 1.5% during the second quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock worth $2,904,422,000 after acquiring an additional 691,165 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after purchasing an additional 739,448 shares during the period. Geode Capital Management LLC grew its stake in Eversource Energy by 2.3% in the second quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider’s stock worth $587,449,000 after purchasing an additional 211,962 shares in the last quarter. Magellan Asset Management Ltd increased its holdings in Eversource Energy by 1.1% during the 2nd quarter. Magellan Asset Management Ltd now owns 6,952,127 shares of the utilities provider’s stock worth $442,294,000 after purchasing an additional 75,784 shares during the period. Finally, Invesco Ltd. raised its position in Eversource Energy by 0.5% during the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock valued at $374,920,000 after purchasing an additional 32,304 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $66.55 on Tuesday. The company has a market capitalization of $24.97 billion, a PE ratio of 18.23, a P/E/G ratio of 2.94 and a beta of 0.76. The company has a 50-day simple moving average of $71.34 and a two-hundred day simple moving average of $67.08. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. Research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm 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. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio is currently 82.47%.

Insider Activity at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction on 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 sale, the executive vice president owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This trade represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Thursday, November 6th. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a report on Monday, November 24th. TD Cowen started coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target for the company. Finally, Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Three investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $70.55.

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.