AlphaQuest LLC Acquires 14,637 Shares of Eversource Energy $ES

AlphaQuest LLC boosted its holdings in shares of Eversource Energy (NYSE:ES) by 1,444.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,650 shares of the utilities provider’s stock after acquiring an additional 14,637 shares during the quarter. AlphaQuest LLC’s holdings in Eversource Energy were worth $1,113,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ES. Root Financial Partners LLC acquired a new stake in Eversource Energy in the third quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Eversource Energy in the 3rd quarter valued at about $27,000. Neo Ivy Capital Management acquired a new stake in shares of Eversource Energy in the second quarter valued at about $26,000. Trust Co. of Toledo NA OH bought a new position in shares of Eversource Energy during the second quarter worth about $28,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Eversource Energy during the second quarter worth about $31,000. Institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Eversource Energy Stock Up 0.3%

Eversource Energy stock opened at $69.15 on Monday. The company has a market capitalization of $25.94 billion, a PE ratio of 18.95, a PEG ratio of 2.35 and a beta of 0.77. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The firm’s fifty day moving average is $67.93 and its 200 day moving average is $68.26. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68.

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

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be paid a dividend of $0.7875 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.15 dividend on an annualized basis and a yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Wall Street Analyst Weigh In

Several analysts recently commented on ES shares. Wells Fargo & Company cut Eversource Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $79.00 to $63.00 in a report on Wednesday, November 19th. TD Cowen began coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Wednesday. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Monday, November 24th. Finally, UBS Group decreased their price target on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $71.50.

Eversource Energy 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.