MQS Management LLC Acquires Shares of 4,128 Eversource Energy (NYSE:ES)

MQS Management LLC bought a new position in shares of Eversource Energy (NYSE:ES) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,128 shares of the utilities provider’s stock, valued at approximately $234,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Heritage Wealth Advisors purchased a new position in Eversource Energy during the 4th quarter worth $25,000. Lynx Investment Advisory acquired a new stake in Eversource Energy in the second quarter valued at about $25,000. Rise Advisors LLC purchased a new stake in Eversource Energy in the 1st quarter valued at approximately $27,000. Versant Capital Management Inc increased its position in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in shares of Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after buying an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Eversource Energy Price Performance

Eversource Energy stock opened at $67.14 on Friday. The stock has a market capitalization of $23.65 billion, a P/E ratio of -56.90, a P/E/G ratio of 2.59 and a beta of 0.61. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The firm’s 50-day moving average is $65.64 and its two-hundred day moving average is $61.34.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $1.00 EPS. Eversource Energy’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Monday, September 23rd. Eversource Energy’s payout ratio is -242.37%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ES. BMO Capital Markets dropped their price objective on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, August 19th. Barclays increased their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Scotiabank upped their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America increased their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company upped their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average price target of $68.93.

About Eversource Energy

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.