Eversource Energy (NYSE:ES) Shares Acquired by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC lifted its holdings in Eversource Energy (NYSE:ES) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,506 shares of the utilities provider’s stock after purchasing an additional 1,062 shares during the period. Connecticut Wealth Management LLC’s holdings in Eversource Energy were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. AJOVista LLC purchased a new stake in Eversource Energy in the 4th quarter worth $216,000. Axxcess Wealth Management LLC acquired a new stake in Eversource Energy during the 4th quarter worth $275,000. Los Angeles Capital Management LLC grew its stake in Eversource Energy by 51.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 182,844 shares of the utilities provider’s stock valued at $11,285,000 after acquiring an additional 61,732 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Eversource Energy by 66.9% in the 4th quarter. Natixis Advisors L.P. now owns 287,058 shares of the utilities provider’s stock worth $17,717,000 after purchasing an additional 115,041 shares in the last quarter. Finally, West Family Investments Inc. boosted its holdings in shares of Eversource Energy by 47.3% during the 4th quarter. West Family Investments Inc. now owns 5,443 shares of the utilities provider’s stock worth $336,000 after purchasing an additional 1,748 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES traded up $0.06 during mid-day trading on Monday, hitting $60.07. 624,194 shares of the company’s stock were exchanged, compared to its average volume of 2,872,541. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.92. The business’s 50 day moving average is $59.17 and its two-hundred day moving average is $58.14.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, analysts expect that Eversource Energy will post 4.49 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be given a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.76%. Eversource Energy’s payout ratio is currently -242.37%.

Analysts Set New Price Targets

Several analysts have recently weighed in on ES shares. The Goldman Sachs Group assumed coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price target for the company. Scotiabank reduced their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. Citigroup increased their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Finally, Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $66.23.

Insiders Place Their Bets

In related news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.