Park Avenue Securities LLC Acquires 295 Shares of Eversource Energy (NYSE:ES)

Park Avenue Securities LLC boosted its position in shares of Eversource Energy (NYSE:ES) by 2.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,756 shares of the utilities provider’s stock after acquiring an additional 295 shares during the period. Park Avenue Securities LLC’s holdings in Eversource Energy were worth $917,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC grew its holdings in Eversource Energy by 19.4% during the 4th quarter. Apollon Wealth Management LLC now owns 9,312 shares of the utilities provider’s stock valued at $535,000 after buying an additional 1,513 shares in the last quarter. Empowered Funds LLC grew its holdings in Eversource Energy by 58.0% during the 4th quarter. Empowered Funds LLC now owns 14,830 shares of the utilities provider’s stock valued at $852,000 after buying an additional 5,441 shares in the last quarter. Savant Capital LLC grew its holdings in Eversource Energy by 2.9% during the 4th quarter. Savant Capital LLC now owns 12,202 shares of the utilities provider’s stock valued at $701,000 after buying an additional 347 shares in the last quarter. Summit Trail Advisors LLC grew its holdings in Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after buying an additional 216 shares in the last quarter. Finally, Quent Capital LLC grew its holdings in Eversource Energy by 34.9% during the 4th quarter. Quent Capital LLC now owns 1,885 shares of the utilities provider’s stock valued at $108,000 after buying an additional 488 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.4%

Shares of ES opened at $65.83 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The stock has a market capitalization of $24.18 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 2.35 and a beta of 0.63. The stock has a 50 day moving average price of $61.10 and a 200 day moving average price of $60.15.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. The company had revenue of $4.12 billion during 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 quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.49 EPS. Equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ES. Wall Street Zen raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Scotiabank cut their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. BMO Capital Markets raised their target price on shares of 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. reissued 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. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus target price of $65.78.

Insider Buying and Selling at Eversource Energy

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 transaction of $166,400.00. Following the completion of the transaction, the executive vice president now directly owns 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by company insiders.

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.