Sound Income Strategies LLC acquired a new position in Eversource Energy (NYSE:ES) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,150 shares of the utilities provider’s stock, valued at approximately $75,000.

Several other hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of Eversource Energy by 100,075.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,640,429 shares of the utilities provider’s stock valued at $960,950,000 after purchasing an additional 15,624,816 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Eversource Energy by 9,315.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 1,270,856 shares of the utilities provider’s stock valued at $955,000 after purchasing an additional 1,257,359 shares during the period. Millennium Management LLC purchased a new position in shares of Eversource Energy in the 2nd quarter valued at approximately $61,134,000. BlackRock Inc. lifted its stake in shares of Eversource Energy by 2.1% in the 3rd quarter. BlackRock Inc. now owns 27,468,588 shares of the utilities provider’s stock valued at $1,687,670,000 after purchasing an additional 562,968 shares during the period. Finally, Cornerstone Wealth Management LLC lifted its stake in shares of Eversource Energy by 758.0% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 616,652 shares of the utilities provider’s stock valued at $10,223,000 after purchasing an additional 544,785 shares during the period. Hedge funds and other institutional investors own 73.53% of the company’s stock.

A number of research analysts have recently commented on ES shares. ValuEngine upgraded Eversource Energy from a “hold” rating to a “buy” rating in a research note on Wednesday, October 24th. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $76.00 target price for the company in a research note on Wednesday, November 28th. Guggenheim restated a “buy” rating and issued a $72.00 target price on shares of Eversource Energy in a research note on Monday. Barclays set a $66.00 target price on Eversource Energy and gave the company a “hold” rating in a research note on Saturday, November 17th. Finally, Morgan Stanley set a $66.00 target price on Eversource Energy and gave the company a “hold” rating in a research note on Thursday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $66.91.

NYSE:ES traded down $0.38 during trading hours on Friday, reaching $65.67. 598,344 shares of the company traded hands, compared to its average volume of 1,520,656. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 3.17 and a beta of 0.25. Eversource Energy has a 1 year low of $52.76 and a 1 year high of $70.53. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.07.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Eversource Energy had a return on equity of 9.32% and a net margin of 12.51%. The firm’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.82 earnings per share. As a group, equities research analysts predict that Eversource Energy will post 3.27 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Tuesday, December 18th were paid a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Monday, December 17th. Eversource Energy’s payout ratio is 64.95%.

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Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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