Eversource Energy (NYSE:ES) Stake Lifted by LVW Advisors LLC

LVW Advisors LLC grew its holdings in shares of Eversource Energy (NYSE:ES) by 7.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,052 shares of the utilities provider’s stock after acquiring an additional 552 shares during the quarter. LVW Advisors LLC’s holdings in Eversource Energy were worth $481,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Heritage Wealth Advisors acquired a new position in Eversource Energy during the 4th quarter worth $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $26,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy in the first quarter valued at $27,000. Bfsg LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $31,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after buying an additional 201 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Down 0.3 %

NYSE:ES opened at $56.56 on Tuesday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $74.81. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. The business’s fifty day moving average price is $59.35 and its 200 day moving average price is $58.69.

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

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, May 16th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 5.06%. The ex-dividend date was Wednesday, May 15th. Eversource Energy’s payout ratio is currently -242.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Argus cut their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Bank of America upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective for the company in a report on Tuesday, June 25th. BMO Capital Markets upped their target price on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Finally, The Goldman Sachs Group initiated coverage on Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price for the company. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $65.86.

Insiders Place Their Bets

In other news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. 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.