Apollon Wealth Management LLC Acquires 5,827 Shares of Eversource Energy (NYSE:ES)

Apollon Wealth Management LLC boosted its holdings in Eversource Energy (NYSE:ES) by 151.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 9,680 shares of the utilities provider’s stock after purchasing an additional 5,827 shares during the period. Apollon Wealth Management LLC’s holdings in Eversource Energy were worth $597,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ES. Czech National Bank grew its holdings in shares of Eversource Energy by 0.3% in the 4th quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock worth $3,776,000 after purchasing an additional 168 shares during the last quarter. Pinion Investment Advisors LLC increased its holdings in shares of Eversource Energy by 4.1% during the third quarter. Pinion Investment Advisors LLC now owns 4,955 shares of the utilities provider’s stock worth $288,000 after buying an additional 197 shares in the last quarter. Assetmark Inc. raised its stake in shares of Eversource Energy by 22.8% in the third quarter. Assetmark Inc. now owns 1,087 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 202 shares during the last quarter. MV Capital Management Inc. boosted its holdings in shares of Eversource Energy by 40.4% in the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 206 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in Eversource Energy by 22.1% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,217 shares of the utilities provider’s stock worth $66,000 after acquiring an additional 220 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ES. BMO Capital Markets lifted their price objective on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Citigroup lifted their price target on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $66.23.

Eversource Energy Price Performance

NYSE:ES opened at $61.92 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.59 and a current ratio of 0.77. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $77.53. The stock’s fifty day simple moving average is $59.43 and its 200-day simple moving average is $58.34.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company’s revenue was down 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 earnings per share. On average, equities analysts predict that Eversource Energy will post 4.49 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s dividend payout ratio is currently -242.37%.

Insider Buying and Selling at Eversource Energy

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

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.