FSA Wealth Management LLC Invests $75,000 in Eversource Energy (NYSE:ES)

FSA Wealth Management LLC bought a new stake in shares of Eversource Energy (NYSE:ES) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,105 shares of the utilities provider’s stock, valued at approximately $75,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ES. Los Angeles Capital Management LLC boosted its position in Eversource Energy by 201.4% during the 2nd quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock valued at $55,273,000 after acquiring an additional 651,263 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Eversource Energy by 75.8% in the 2nd quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock valued at $74,142,000 after purchasing an additional 563,756 shares during the period. Hsbc Holdings PLC boosted its position in shares of Eversource Energy by 26.9% during the second quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after purchasing an additional 374,458 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares during the period. Finally, International Assets Investment Management LLC bought a new position in Eversource Energy in the third quarter worth $176,214,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ES. BMO Capital Markets dropped their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Barclays upped their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. 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 report on Wednesday, October 2nd. Scotiabank upped their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley raised their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $70.58.

Eversource Energy Stock Performance

Shares of ES stock opened at $64.49 on Monday. The firm has a market capitalization of $23.63 billion, a PE ratio of -41.08, a P/E/G ratio of 2.58 and a beta of 0.61. The company has a 50 day moving average price of $64.33 and a 200-day moving average price of $63.03. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period last year, the business posted $0.97 EPS. As a group, equities research analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is -182.17%.

About Eversource Energy

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.