International Assets Investment Management LLC Makes New Investment in Eversource Energy (NYSE:ES)

International Assets Investment Management LLC acquired a new stake in Eversource Energy (NYSE:ES) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 159,361 shares of the utilities provider’s stock, valued at approximately $98,360,000.

Other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in Eversource Energy in the fourth quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in Eversource Energy during the 4th quarter worth $43,000. MV Capital Management Inc. lifted its position in Eversource Energy by 40.4% in the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares during the last quarter. Blue Trust Inc. boosted its stake in Eversource Energy by 172.7% in the fourth quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 480 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Eversource Energy by 4,500.0% during the third quarter. Larson Financial Group LLC now owns 920 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 900 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eversource Energy

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

Eversource Energy Stock Down 1.4 %

Eversource Energy stock opened at $60.75 on Friday. The stock’s 50 day moving average price is $59.15 and its 200 day moving average price is $58.07. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $77.97. The company has a market cap of $21.31 billion, a PE ratio of -48.21, a price-to-earnings-growth ratio of 3.23 and a beta of 0.57. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. 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 prior year, the company posted $1.41 EPS. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, sell-side analysts predict that Eversource Energy will post 4.51 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.71%. Eversource Energy’s payout ratio is -226.98%.

Wall Street Analyst Weigh In

ES has been the subject of several research reports. Mizuho raised 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 report on Thursday, February 15th. The Goldman Sachs Group started coverage on Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, Argus dropped their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $65.85.

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.