Edmp Inc. Boosts Stock Position in Eversource Energy $ES

Edmp Inc. raised its holdings in Eversource Energy (NYSE:ES) by 32.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,694 shares of the utilities provider’s stock after purchasing an additional 8,296 shares during the period. Eversource Energy comprises approximately 1.9% of Edmp Inc.’s holdings, making the stock its 16th largest holding. Edmp Inc.’s holdings in Eversource Energy were worth $2,397,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Neo Ivy Capital Management acquired a new stake in Eversource Energy in the second quarter valued at $26,000. Trust Co. of Toledo NA OH bought a new stake in shares of Eversource Energy in the 2nd quarter worth about $28,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Eversource Energy in the 2nd quarter worth about $31,000. Hilltop National Bank acquired a new stake in shares of Eversource Energy in the 2nd quarter valued at about $32,000. Finally, Anchor Investment Management LLC lifted its position in shares of Eversource Energy by 122.0% during the second quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Down 0.3%

Shares of NYSE ES opened at $67.37 on Friday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The company has a market cap of $25.28 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 2.39 and a beta of 0.76. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The stock’s 50 day simple moving average is $69.29 and its 200 day simple moving average is $67.46.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.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 prior year, the business earned $1.13 EPS. The firm’s revenue was up 5.2% on a year-over-year basis. Equities research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Wells Fargo & Company lowered Eversource Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $79.00 to $63.00 in a research report on Wednesday, November 19th. UBS Group reduced their price objective on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average target price of $71.27.

Insiders Place Their Bets

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

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.