Sachetta LLC Acquires New Stake in Eversource Energy (NYSE:ES)

Sachetta LLC acquired a new stake in shares of Eversource Energy (NYSE:ESFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,931 shares of the utilities provider’s stock, valued at approximately $428,000.

A number of other hedge funds also recently bought and sold shares of the company. Assetmark Inc. increased its position in Eversource Energy by 22.8% in the third quarter. Assetmark Inc. now owns 1,087 shares of the utilities provider’s stock worth $63,000 after buying an additional 202 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in Eversource Energy by 22.6% in the third quarter. Orion Portfolio Solutions LLC now owns 10,330 shares of the utilities provider’s stock worth $601,000 after buying an additional 1,904 shares in the last quarter. New Mexico Educational Retirement Board boosted its stake in shares of Eversource Energy by 7.1% in the third quarter. New Mexico Educational Retirement Board now owns 18,116 shares of the utilities provider’s stock worth $1,053,000 after acquiring an additional 1,200 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Eversource Energy by 4.8% in the third quarter. Nisa Investment Advisors LLC now owns 44,360 shares of the utilities provider’s stock worth $2,580,000 after acquiring an additional 2,017 shares during the period. Finally, Empirical Finance LLC boosted its stake in shares of Eversource Energy by 11.1% in the third quarter. Empirical Finance LLC now owns 12,027 shares of the utilities provider’s stock worth $699,000 after acquiring an additional 1,202 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock traded down $0.19 during trading on Monday, hitting $60.77. The stock had a trading volume of 459,575 shares, compared to its average volume of 2,774,826. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $74.81. The stock has a market capitalization of $21.41 billion, a P/E ratio of -51.54, a PEG ratio of 2.36 and a beta of 0.57. The company’s 50-day moving average price is $59.63 and its two-hundred day moving average price is $58.67.

Eversource Energy (NYSE:ESGet Free Report) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the firm posted $1.41 EPS. The business’s revenue for the quarter was down 12.2% compared to the same quarter last year. As a group, research analysts predict that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s payout ratio is currently -242.37%.

Insider Activity

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred 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 sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ES. Wells Fargo & Company upped their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Bank of America upped their price objective on Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Argus dropped their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Finally, Scotiabank decreased their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $65.86.

View Our Latest Stock Report on Eversource Energy

Eversource Energy Profile

(Free Report)

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.

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

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