2,615 Shares in Eversource Energy (NYSE:ES) Acquired by CX Institutional

CX Institutional bought a new position in Eversource Energy (NYSE:ES) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,615 shares of the utilities provider’s stock, valued at approximately $162,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Assenagon Asset Management S.A. lifted its position in Eversource Energy by 5.6% in the first quarter. Assenagon Asset Management S.A. now owns 13,942 shares of the utilities provider’s stock valued at $866,000 after purchasing an additional 734 shares during the last quarter. Accurate Wealth Management LLC lifted its position in Eversource Energy by 2.9% in the first quarter. Accurate Wealth Management LLC now owns 9,910 shares of the utilities provider’s stock valued at $616,000 after purchasing an additional 283 shares during the last quarter. Fiduciary Financial Group LLC bought a new stake in Eversource Energy in the first quarter valued at approximately $281,000. GAMMA Investing LLC lifted its position in Eversource Energy by 24.2% in the first quarter. GAMMA Investing LLC now owns 6,831 shares of the utilities provider’s stock valued at $424,000 after purchasing an additional 1,333 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its position in Eversource Energy by 213.8% in the first quarter. Yousif Capital Management LLC now owns 152,427 shares of the utilities provider’s stock valued at $9,467,000 after purchasing an additional 103,851 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on ES shares. Wall Street Zen upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. BMO Capital Markets upped their target price on Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $65.78.

Eversource Energy Price Performance

Shares of ES stock opened at $65.13 on Monday. The stock has a market cap of $23.93 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.35 and a beta of 0.63. The business’s fifty day moving average is $61.31 and its 200 day moving average is $60.10. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting the consensus estimate of $1.50. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 earnings per share. Research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.62%. Eversource Energy’s payout ratio is 129.74%.

About Eversource Energy

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.