SteelPeak Wealth LLC Makes New $868,000 Investment in Eversource Energy $ES

SteelPeak Wealth LLC bought a new stake in Eversource Energy (NYSE:ES) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 12,204 shares of the utilities provider’s stock, valued at approximately $868,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Generali Asset Management SPA SGR grew its stake in Eversource Energy by 41.6% in the 3rd quarter. Generali Asset Management SPA SGR now owns 75,729 shares of the utilities provider’s stock valued at $5,387,000 after acquiring an additional 22,231 shares during the last quarter. Golden State Equity Partners purchased a new stake in shares of Eversource Energy in the third quarter valued at about $464,000. Edmp Inc. grew its position in shares of Eversource Energy by 32.7% in the third quarter. Edmp Inc. now owns 33,694 shares of the utilities provider’s stock valued at $2,397,000 after purchasing an additional 8,296 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Eversource Energy by 81.9% during the 3rd quarter. True Wealth Design LLC now owns 1,106 shares of the utilities provider’s stock worth $79,000 after purchasing an additional 498 shares in the last quarter. Finally, Mather Group LLC. increased its stake in shares of Eversource Energy by 9.6% during the 3rd quarter. Mather Group LLC. now owns 5,017 shares of the utilities provider’s stock worth $357,000 after purchasing an additional 439 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ES shares. BMO Capital Markets reduced their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. TD Cowen began coverage on Eversource Energy in a research report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective on the stock. Scotiabank decreased their price objective on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Thursday, November 20th. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Finally, Mizuho restated a “neutral” rating and issued a $68.00 target price (down from $81.00) on shares of Eversource Energy in a report on Thursday, November 20th. Three equities 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 company’s stock. According to MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average target price of $71.27.

Eversource Energy Stock Performance

Eversource Energy stock opened at $68.05 on Friday. The stock has a fifty day moving average price of $69.15 and a 200 day moving average price of $67.52. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25. The firm has a market capitalization of $25.53 billion, a P/E ratio of 18.64, a PEG ratio of 2.31 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.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (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 for the quarter, compared to analyst estimates of $3.28 billion. During the same period last year, the company earned $1.13 EPS. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced 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 yield of 4.4%. The ex-dividend date was Wednesday, December 17th. Eversource Energy’s payout ratio is presently 82.47%.

Insider Buying and Selling

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

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.