Merit Financial Group LLC Raises Position in Eversource Energy (NYSE:ES)

Merit Financial Group LLC raised its holdings in shares of Eversource Energy (NYSE:ES) by 34.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,243 shares of the utilities provider’s stock after acquiring an additional 2,112 shares during the quarter. Merit Financial Group LLC’s holdings in Eversource Energy were worth $512,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Mizuho Bank Ltd. bought a new stake in shares of Eversource Energy during the 4th quarter valued at $26,000. Kestra Investment Management LLC bought a new stake in Eversource Energy in the 4th quarter valued at $29,000. Assetmark Inc. increased its holdings in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares during the last quarter. Pinney & Scofield Inc. bought a new stake in Eversource Energy in the 4th quarter valued at $33,000. Finally, Venturi Wealth Management LLC increased its holdings in Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.4%

NYSE ES opened at $65.89 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm has a market cap of $24.21 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63. The company has a 50 day moving average price of $60.75 and a 200 day moving average price of $60.10. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous year, the business posted $1.49 EPS. Eversource Energy’s revenue was up 23.6% on a year-over-year basis. As a group, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.57%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is currently 129.74%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on ES shares. Wall Street Zen upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. BMO Capital Markets lifted their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a research note on Monday, April 28th. Finally, Scotiabank lowered their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.78.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the sale, the executive vice president now directly owns 10,988 shares of the company’s stock, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 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.