Ironwood Investment Counsel LLC Takes Position in Eversource Energy $ES

Ironwood Investment Counsel LLC bought a new position in shares of Eversource Energy (NYSE:ES) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 18,426 shares of the utilities provider’s stock, valued at approximately $1,172,000.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new position in shares of Eversource Energy in the second quarter valued at about $28,000. Hilltop National Bank bought a new stake in Eversource Energy in the 2nd quarter valued at about $32,000. True Wealth Design LLC grew its position in shares of Eversource Energy by 540.0% during the 2nd quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 513 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of Eversource Energy during the first quarter worth approximately $46,000. Finally, Bogart Wealth LLC increased its holdings in shares of Eversource Energy by 100.9% during the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 466 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP James W. Hunt III sold 4,129 shares of the business’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 sale, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. This represents a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho boosted their price target on Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. UBS Group lowered 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. Wells Fargo & Company initiated coverage on Eversource Energy in a research report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price target on the stock. TD Cowen assumed coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. Finally, Jefferies Financial Group increased their price objective on shares of Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 22nd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $72.70.

Eversource Energy Stock Performance

NYSE:ES opened at $73.27 on Wednesday. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. The stock’s 50-day simple moving average is $70.17 and its 200 day simple moving average is $66.31. The firm has a market capitalization of $27.49 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.69.

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. 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 the consensus estimate of $3.28 billion. During the same quarter in the previous year, the firm earned $1.13 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.1%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

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.