Soltis Investment Advisors LLC Has $5.68 Million Holdings in Eversource Energy $ES

Soltis Investment Advisors LLC lifted its position in shares of Eversource Energy (NYSE:ES) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,247 shares of the utilities provider’s stock after buying an additional 7,203 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Eversource Energy were worth $5,678,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Resona Asset Management Co. Ltd. grew its holdings in Eversource Energy by 4.3% in the second quarter. Resona Asset Management Co. Ltd. now owns 158,290 shares of the utilities provider’s stock worth $10,057,000 after purchasing an additional 6,454 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in Eversource Energy in the second quarter worth $197,000. Genus Capital Management Inc. grew its holdings in Eversource Energy by 71.2% in the second quarter. Genus Capital Management Inc. now owns 46,400 shares of the utilities provider’s stock worth $2,952,000 after purchasing an additional 19,300 shares during the period. Claro Advisors LLC grew its holdings in Eversource Energy by 3.7% in the second quarter. Claro Advisors LLC now owns 9,701 shares of the utilities provider’s stock worth $617,000 after purchasing an additional 347 shares during the period. Finally, Huntington National Bank grew its holdings in Eversource Energy by 6.1% in the second quarter. Huntington National Bank now owns 7,084 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 407 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on ES shares. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $73.00 to $85.00 in a research note on Tuesday, October 21st. Mizuho raised their price objective on shares of Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday, October 27th. Scotiabank set a $64.00 price objective on shares of Eversource Energy and gave the company a “sector underperform” rating in a research note on Wednesday. TD Cowen started coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective on the stock. Finally, Jefferies Financial Group raised their price objective on shares of Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.56.

Eversource Energy Stock Down 1.2%

ES opened at $72.90 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The company’s 50-day moving average is $69.49 and its 200 day moving average is $65.83. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The firm has a market capitalization of $27.05 billion, a P/E ratio of 19.97, a PEG ratio of 2.65 and a beta of 0.69.

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. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.19%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. Research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.1%. Eversource Energy’s payout ratio is currently 82.47%.

Insider Buying and Selling

In related news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction on Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company’s stock.

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.