Perigon Wealth Management LLC Acquires New Position in Eversource Energy (NYSE:ES)

Perigon Wealth Management LLC acquired a new stake in shares of Eversource Energy (NYSE:ES) during the 4th quarter, Holdings Channel reports. The fund acquired 4,145 shares of the utilities provider’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also modified their holdings of ES. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Eversource Energy during the first quarter worth approximately $1,257,000. Dimensional Fund Advisors LP increased its position in Eversource Energy by 16.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock worth $99,716,000 after purchasing an additional 158,844 shares during the last quarter. Vontobel Holding Ltd. increased its position in Eversource Energy by 8.5% during the first quarter. Vontobel Holding Ltd. now owns 7,816 shares of the utilities provider’s stock worth $693,000 after purchasing an additional 613 shares during the last quarter. Sei Investments Co. increased its position in shares of Eversource Energy by 1.5% in the first quarter. Sei Investments Co. now owns 153,081 shares of the utilities provider’s stock worth $13,510,000 after acquiring an additional 2,219 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its position in shares of Eversource Energy by 76.9% in the first quarter. Allianz Asset Management GmbH now owns 133,385 shares of the utilities provider’s stock worth $11,763,000 after acquiring an additional 57,995 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ES shares. BMO Capital Markets increased their price objective on shares of Eversource Energy from $63.00 to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, February 15th. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price for the company. Finally, Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. One 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $66.08.

Eversource Energy Price Performance

Eversource Energy stock opened at $58.51 on Thursday. The firm’s 50-day moving average is $58.40 and its 200-day moving average is $57.77. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $79.92.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the business posted $0.92 earnings per share. The company’s quarterly revenue was down 11.1% compared to the same quarter last year. As a group, research analysts forecast that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.