Osaic Holdings Inc. Has $10.83 Million Stock Position in Eversource Energy $ES

Osaic Holdings Inc. raised its holdings in Eversource Energy (NYSE:ES) by 60.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,983 shares of the utilities provider’s stock after buying an additional 64,333 shares during the quarter. Osaic Holdings Inc.’s holdings in Eversource Energy were worth $10,828,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of Eversource Energy by 39.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 15,866 shares of the utilities provider’s stock valued at $985,000 after acquiring an additional 4,515 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Eversource Energy by 248.3% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 29,912 shares of the utilities provider’s stock valued at $1,848,000 after purchasing an additional 21,325 shares in the last quarter. Credit Agricole S A raised its holdings in shares of Eversource Energy by 6.5% during the first quarter. Credit Agricole S A now owns 140,243 shares of the utilities provider’s stock valued at $8,710,000 after purchasing an additional 8,555 shares during the period. EntryPoint Capital LLC bought a new position in shares of Eversource Energy during the 1st quarter worth about $313,000. Finally, United Asset Strategies Inc. acquired a new stake in shares of Eversource Energy in the 1st quarter valued at about $873,000. 79.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Scotiabank dropped their price target on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Thursday, November 20th. Mizuho reiterated a “neutral” rating and set a $68.00 price objective (down from $81.00) on shares of Eversource Energy in a report on Thursday, November 20th. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. UBS Group decreased their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company downgraded Eversource Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $79.00 to $63.00 in a research note on Wednesday, November 19th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average price target of $71.27.

Eversource Energy Price Performance

Shares of NYSE ES opened at $67.15 on Friday. 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 has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The stock has a market cap of $25.19 billion, a PE ratio of 18.40, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The stock has a fifty day moving average of $70.23 and a 200-day moving average of $67.36.

Eversource Energy (NYSE:ES) last issued its 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. The business had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.13 EPS. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Wednesday, December 17th. Eversource Energy’s dividend payout ratio is currently 82.47%.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company’s stock.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.