Atlantic Union Bankshares Corp Takes $197,000 Position in Eversource Energy $ES

Atlantic Union Bankshares Corp bought a new position in Eversource Energy (NYSE:ES) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 3,091 shares of the utilities provider’s stock, valued at approximately $197,000.

A number of other institutional investors have also recently bought and sold shares of the business. Trust Co. of Toledo NA OH acquired a new position in shares of Eversource Energy in the 2nd quarter valued at $28,000. Hilltop National Bank acquired a new stake in shares of Eversource Energy during the 2nd quarter valued at about $32,000. Zions Bancorporation National Association UT bought a new stake in Eversource Energy in the first quarter valued at about $46,000. Bogart Wealth LLC increased its stake in Eversource Energy by 100.9% in the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock valued at $59,000 after acquiring an additional 466 shares during the period. Finally, AlphaQuest LLC raised its position in Eversource Energy by 155.8% in the second quarter. AlphaQuest LLC now owns 1,013 shares of the utilities provider’s stock worth $64,000 after purchasing an additional 617 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Jefferies Financial Group upped their price target on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company initiated coverage on Eversource Energy in a research note on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.70.

Eversource Energy Stock Up 2.1%

Shares of ES opened at $73.07 on Monday. The company has a market capitalization of $27.12 billion, a P/E ratio of 20.02, a PEG ratio of 2.62 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. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The business’s 50 day simple moving average is $69.81 and its 200-day simple moving average is $66.10.

Eversource Energy (NYSE:ES) last released its quarterly 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. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm posted $1.13 EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

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.