Pine Haven Investment Counsel Inc Acquires Shares of 3,451 Eversource Energy (NYSE:ES)

11 Oct 2024, 13:36 by Doug Wharley · The Cerbat Gem

Pine Haven Investment Counsel Inc acquired a new stake in Eversource Energy (NYSE:ES – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,451 shares of the utilities provider’s stock, valued at approximately $235,000.

A number of other hedge funds have also modified their holdings of the stock. V Square Quantitative Management LLC raised its stake in Eversource Energy by 23.8% during the fourth quarter. V Square Quantitative Management LLC now owns 7,944 shares of the utilities provider’s stock worth $490,000 after acquiring an additional 1,528 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its position in shares of Eversource Energy by 4.4% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 106,245 shares of the utilities provider’s stock worth $6,558,000 after purchasing an additional 4,501 shares in the last quarter. Great Oak Capital Partners LLC bought a new position in Eversource Energy during the 4th quarter valued at about $1,047,000. Syon Capital LLC acquired a new position in Eversource Energy in the fourth quarter valued at about $467,000. Finally, Richardson Financial Services Inc. bought a new stake in Eversource Energy during the fourth quarter worth about $148,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Trading Down 0.1 %

NYSE ES traded down $0.05 during trading hours on Friday, hitting $63.81. The company’s stock had a trading volume of 583,343 shares, compared to its average volume of 2,423,066. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. The firm has a market capitalization of $22.81 billion, a P/E ratio of -235.37, a PEG ratio of 2.47 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The stock has a fifty day moving average of $66.50 and a 200 day moving average of $61.97.

Eversource Energy (NYSE:ES – Get Free Report) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the previous year, the company posted $1.00 EPS. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities research analysts forecast that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.48%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is -1,059.26%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ES shares. Mizuho lifted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company boosted their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Scotiabank raised their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Finally, Morgan Stanley increased their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $70.00.

Check Out Our Latest Analysis on Eversource Energy

About Eversource Energy

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