Ieq Capital LLC Has $577,000 Position in Eversource Energy (NYSE:ES)

Ieq Capital LLC boosted its stake in shares of Eversource Energy (NYSE:ES) by 60.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,130 shares of the utilities provider’s stock after buying an additional 3,068 shares during the quarter. Ieq Capital LLC’s holdings in Eversource Energy were worth $577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ES. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Eversource Energy during the 1st quarter worth about $1,257,000. Dimensional Fund Advisors LP lifted its stake in shares of Eversource Energy by 16.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock valued at $99,716,000 after purchasing an additional 158,844 shares during the period. Vontobel Holding Ltd. lifted its stake in shares of Eversource Energy by 8.5% in the 1st quarter. Vontobel Holding Ltd. now owns 7,816 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 613 shares during the period. Sei Investments Co. lifted its stake in shares of Eversource Energy by 1.5% in the 1st quarter. Sei Investments Co. now owns 153,081 shares of the utilities provider’s stock valued at $13,510,000 after purchasing an additional 2,219 shares during the period. Finally, Allianz Asset Management GmbH lifted its stake in shares of Eversource Energy by 76.9% in the 1st quarter. Allianz Asset Management GmbH now owns 133,385 shares of the utilities provider’s stock valued at $11,763,000 after purchasing an additional 57,995 shares during the period. 80.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Gregory B. Butler sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.25, for a total value of $963,750.00. Following the completion of the transaction, the vice president now directly owns 63,554 shares of the company’s stock, valued at $4,083,344.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Performance

Shares of ES opened at $53.80 on Friday. The company has a debt-to-equity ratio of 1.41, a quick ratio of 0.57 and a current ratio of 0.56. The stock has a 50 day moving average price of $57.82 and a two-hundred day moving average price of $66.35. The firm has a market capitalization of $18.79 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.50 and a beta of 0.54. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $87.71.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 6th. The utilities provider reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.12 billion. Eversource Energy had a return on equity of 9.64% and a net margin of 9.52%. The business’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. Equities analysts forecast that Eversource Energy will post 4.35 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 25th were issued a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 5.02%. The ex-dividend date was Friday, September 22nd. Eversource Energy’s dividend payout ratio is presently 80.84%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ES. Barclays dropped their price objective on Eversource Energy from $72.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 24th. Citigroup dropped their price objective on Eversource Energy from $80.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, October 26th. StockNews.com began coverage on Eversource Energy in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. BMO Capital Markets dropped their price objective on Eversource Energy from $75.00 to $62.00 and set a “market perform” rating on the stock in a research note on Friday, October 13th. Finally, UBS Group boosted their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $68.67.

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.