SteelPeak Wealth LLC Buys New Holdings in Eversource Energy $ES

SteelPeak Wealth LLC purchased a new position in shares of Eversource Energy (NYSE:ES) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 12,204 shares of the utilities provider’s stock, valued at approximately $868,000.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Eversource Energy by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock worth $2,904,422,000 after purchasing an additional 691,165 shares during the period. State Street Corp lifted its position in Eversource Energy by 1.7% during the second quarter. State Street Corp now owns 27,343,038 shares of the utilities provider’s stock valued at $1,739,564,000 after buying an additional 465,822 shares in the last quarter. Geode Capital Management LLC lifted its position in Eversource Energy by 2.3% during the second quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider’s stock valued at $587,449,000 after buying an additional 211,962 shares in the last quarter. Magellan Asset Management Ltd grew its stake in Eversource Energy by 1.1% during the second quarter. Magellan Asset Management Ltd now owns 6,952,127 shares of the utilities provider’s stock worth $442,294,000 after buying an additional 75,784 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Eversource Energy by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock worth $354,177,000 after acquiring an additional 185,146 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Up 1.1%

Shares of NYSE:ES opened at $68.05 on Friday. The firm has a market cap of $25.53 billion, a PE ratio of 18.64, a price-to-earnings-growth ratio of 2.31 and a beta of 0.76. The company has a fifty day simple moving average of $69.15 and a 200 day simple moving average of $67.52. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $3.22 billion during 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 11.06%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $1.13 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Wednesday, December 17th. Eversource Energy’s dividend payout ratio (DPR) is 82.47%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BMO Capital Markets reduced their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Monday, November 24th. Mizuho reiterated a “neutral” rating and issued a $68.00 target price (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Finally, UBS Group decreased their price target on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.27.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.