Strategy Asset Managers LLC Acquires Shares of 2,997 Eversource Energy (NYSE:ES)

Strategy Asset Managers LLC acquired a new stake in shares of Eversource Energy (NYSE:ESGet Rating) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,997 shares of the utilities provider’s stock, valued at approximately $264,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ES. David J Yvars Group purchased a new position in shares of Eversource Energy during the 4th quarter valued at about $26,000. Country Trust Bank purchased a new position in shares of Eversource Energy in the 4th quarter valued at about $28,000. TAP Consulting LLC purchased a new position in shares of Eversource Energy in the 4th quarter valued at about $28,000. Rinkey Investments purchased a new position in shares of Eversource Energy in the 4th quarter valued at about $31,000. Finally, EverSource Wealth Advisors LLC purchased a new position in shares of Eversource Energy in the 4th quarter valued at about $33,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Shares of Eversource Energy stock opened at $80.58 on Thursday. The stock has a market cap of $27.79 billion, a P/E ratio of 21.43, a P/E/G ratio of 3.05 and a beta of 0.41. The stock’s 50 day simple moving average is $88.96 and its 200-day simple moving average is $87.59. Eversource Energy has a 1-year low of $77.07 and a 1-year high of $94.63. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.62 and a quick ratio of 0.57.

Eversource Energy (NYSE:ESGet Rating) last released its quarterly earnings data on Wednesday, May 4th. The utilities provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. Eversource Energy had a return on equity of 9.52% and a net margin of 12.32%. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $2.89 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. As a group, research analysts expect that Eversource Energy will post 4.11 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Thursday, May 19th will be issued a $0.6375 dividend. This represents a $2.55 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, May 18th. Eversource Energy’s dividend payout ratio is presently 67.82%.

In other Eversource Energy news, EVP Penelope M. Conner sold 4,000 shares of the company’s stock in a transaction on Tuesday, May 24th. The stock was sold at an average price of $91.75, for a total transaction of $367,000.00. Following the transaction, the executive vice president now directly owns 4,979 shares in the company, valued at $456,823.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jay S. Buth sold 650 shares of the company’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $92.55, for a total value of $60,157.50. Following the transaction, the vice president now owns 17,516 shares in the company, valued at $1,621,105.80. The disclosure for this sale can be found here. Insiders sold 10,953 shares of company stock worth $995,989 over the last quarter. 0.38% of the stock is currently owned by insiders.

Several equities analysts recently weighed in on the company. StockNews.com assumed coverage on Eversource Energy in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Morgan Stanley cut their price objective on Eversource Energy from $97.00 to $94.00 and set an “equal weight” rating for the company in a research note on Monday, May 23rd. Wells Fargo & Company boosted their price objective on Eversource Energy from $92.00 to $97.00 in a research note on Thursday, May 5th. Wolfe Research lowered Eversource Energy from an “outperform” rating to a “peer perform” rating and cut their price objective for the stock from $87.00 to $85.00 in a research note on Wednesday, March 9th. Finally, Credit Suisse Group assumed coverage on Eversource Energy in a research note on Tuesday, April 26th. They set a “neutral” rating and a $92.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $90.00.

About Eversource Energy (Get Rating)

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.

See Also

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

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