LSV Asset Management Grows Stake in Eversource Energy $ES

LSV Asset Management lifted its position in Eversource Energy (NYSE:ES) by 135.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 363,014 shares of the utilities provider’s stock after buying an additional 209,014 shares during the period. LSV Asset Management’s holdings in Eversource Energy were worth $23,095,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Trust Co. of Toledo NA OH bought a new position in Eversource Energy in the 2nd quarter worth about $28,000. Hilltop National Bank purchased a new position in shares of Eversource Energy during the second quarter worth about $32,000. True Wealth Design LLC increased its position in shares of Eversource Energy by 540.0% in the second quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 513 shares during the last quarter. Zions Bancorporation National Association UT purchased a new stake in Eversource Energy in the first quarter valued at approximately $46,000. Finally, Bogart Wealth LLC lifted its position in Eversource Energy by 100.9% during the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock valued at $59,000 after purchasing an additional 466 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ES. BMO Capital Markets cut their target price on shares of 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. Mizuho lifted their price target on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Wells Fargo & Company initiated coverage on Eversource Energy in a research report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective on the stock. TD Cowen assumed coverage on Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective on the stock. Finally, Scotiabank upped their target price on Eversource Energy from $55.00 to $64.00 and gave the stock a “sector underperform” rating in a research note on Wednesday, November 5th. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average price target of $72.70.

Insider Buying and Selling at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the 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 sale, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. This 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. Also, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 0.19% of the company’s stock.

Eversource Energy Trading Up 0.7%

NYSE ES opened at $74.56 on Wednesday. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25. 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 has a 50-day moving average of $71.21 and a 200-day moving average of $66.82. The firm has a market cap of $27.97 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69.

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

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio is currently 82.47%.

Eversource Energy 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.