Edmp Inc. Raises Position in Eversource Energy $ES

Edmp Inc. increased its holdings in Eversource Energy (NYSE:ES) by 32.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,694 shares of the utilities provider’s stock after purchasing an additional 8,296 shares during the period. Eversource Energy accounts for 1.9% of Edmp Inc.’s investment portfolio, making the stock its 16th biggest position. Edmp Inc.’s holdings in Eversource Energy were worth $2,397,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. MAI Capital Management grew its holdings in Eversource Energy by 10.0% in the 1st quarter. MAI Capital Management now owns 2,896 shares of the utilities provider’s stock valued at $180,000 after buying an additional 263 shares during the period. Flputnam Investment Management Co. grew its holdings in Eversource Energy by 49.0% in the first quarter. Flputnam Investment Management Co. now owns 5,971 shares of the utilities provider’s stock valued at $371,000 after purchasing an additional 1,963 shares during the period. First Manhattan CO. LLC. grew its holdings in Eversource Energy by 2.7% in the first quarter. First Manhattan CO. LLC. now owns 9,382 shares of the utilities provider’s stock valued at $583,000 after purchasing an additional 251 shares during the period. Federation des caisses Desjardins du Quebec increased its position in Eversource Energy by 47.6% during the first quarter. Federation des caisses Desjardins du Quebec now owns 20,893 shares of the utilities provider’s stock worth $1,298,000 after purchasing an additional 6,734 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Eversource Energy by 8.4% during the first quarter. Advisors Asset Management Inc. now owns 30,041 shares of the utilities provider’s stock worth $1,866,000 after purchasing an additional 2,317 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ES shares. TD Cowen started coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. BMO Capital Markets lowered their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday, November 6th. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. JPMorgan Chase & Co. reduced their price objective on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Finally, Mizuho reissued a “neutral” rating and set a $68.00 target price (down previously from $81.00) on shares of Eversource Energy in a research report on Thursday, November 20th. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.27.

Insider Buying and Selling

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. The trade was a 11.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $67.37 on Friday. The company has a market cap of $25.28 billion, a P/E ratio of 18.46, a PEG ratio of 2.39 and a beta of 0.76. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The business’s 50-day simple moving average is $69.29 and its 200 day simple moving average is $67.46.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.Eversource Energy’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 EPS. On average, sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 annualized dividend and a yield of 4.5%. Eversource Energy’s payout ratio is 82.47%.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.