West Family Investments Inc. Raises Position in Eversource Energy (NYSE:ES)

West Family Investments Inc. raised its position in shares of Eversource Energy (NYSE:ES) by 47.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,443 shares of the utilities provider’s stock after acquiring an additional 1,748 shares during the quarter. West Family Investments Inc.’s holdings in Eversource Energy were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ES. Exchange Traded Concepts LLC purchased a new stake in Eversource Energy in the fourth quarter worth $26,000. Bfsg LLC purchased a new stake in shares of Eversource Energy in the 4th quarter worth about $31,000. Hexagon Capital Partners LLC increased its stake in shares of Eversource Energy by 84.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 272 shares in the last quarter. MV Capital Management Inc. lifted its position in Eversource Energy by 40.4% during the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares during the period. Finally, CVA Family Office LLC bought a new stake in Eversource Energy during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Eversource Energy Stock Performance

ES traded down $0.90 on Thursday, reaching $60.72. 1,228,707 shares of the stock were exchanged, compared to its average volume of 2,869,413. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.97. The company’s 50-day moving average price is $59.09 and its 200 day moving average price is $58.05. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The firm has a market capitalization of $21.30 billion, a PE ratio of -48.89, a PEG ratio of 3.23 and a beta of 0.57.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the company earned $1.41 EPS. The business’s revenue was down 12.2% on a year-over-year basis. As a group, sell-side analysts forecast that Eversource Energy will post 4.51 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.71%. Eversource Energy’s dividend payout ratio (DPR) is currently -226.98%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ES. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $72.00 in a research report on Monday, January 22nd. The Goldman Sachs Group started coverage on Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price on the stock. Wells Fargo & Company lifted their price target on Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Citigroup increased their price objective on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, Scotiabank decreased their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $65.85.

Eversource Energy Company 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.