Global Assets Advisory LLC Makes New Investment in Eversource Energy (NYSE:ES)

Global Assets Advisory LLC purchased a new stake in Eversource Energy (NYSE:ES) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 42,158 shares of the utilities provider’s stock, valued at approximately $2,520,000.

Other institutional investors also recently modified their holdings of the company. Heritage Wealth Advisors bought a new position in shares of Eversource Energy in the fourth quarter valued at $25,000. Exchange Traded Concepts LLC bought a new position in shares of Eversource Energy in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new stake in Eversource Energy during the 1st quarter valued at $27,000. Bfsg LLC acquired a new stake in Eversource Energy during the 4th quarter valued at $31,000. Finally, Versant Capital Management Inc raised its stake in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the period. Institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ES shares. UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price on the stock. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Argus cut their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, BMO Capital Markets upped their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.86.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $57.10 on Wednesday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The firm has a fifty day moving average price of $59.48 and a 200 day moving average price of $58.78. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. Eversource Energy’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. On average, equities analysts expect that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Eversource Energy 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.