Axxcess Wealth Management LLC Buys New Position in Eversource Energy (NYSE:ES)

Axxcess Wealth Management LLC purchased a new position in shares of Eversource Energy (NYSE:ES) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,462 shares of the utilities provider’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ES. Mackenzie Financial Corp boosted its position in Eversource Energy by 34.6% during the third quarter. Mackenzie Financial Corp now owns 44,222 shares of the utilities provider’s stock valued at $2,479,000 after acquiring an additional 11,372 shares during the last quarter. Strs Ohio lifted its stake in Eversource Energy by 16.1% in the third quarter. Strs Ohio now owns 26,647 shares of the utilities provider’s stock valued at $1,549,000 after buying an additional 3,696 shares during the period. Advisor Partners II LLC boosted its holdings in shares of Eversource Energy by 22.0% during the 3rd quarter. Advisor Partners II LLC now owns 10,149 shares of the utilities provider’s stock worth $590,000 after buying an additional 1,831 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of Eversource Energy by 8.3% in the 3rd quarter. Park Avenue Securities LLC now owns 21,090 shares of the utilities provider’s stock valued at $1,226,000 after acquiring an additional 1,611 shares in the last quarter. Finally, TIAA Trust National Association acquired a new position in shares of Eversource Energy during the 3rd quarter valued at $794,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analysts Set New Price Targets

ES has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price target for the company. Wells Fargo & Company boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. UBS Group upgraded 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 report on Thursday, April 4th. Scotiabank decreased their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Barclays cut their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $66.23.

Insider Buying and Selling

In other news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction 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 sale, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Linda Dorcena Forry sold 822 shares of the firm’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 in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Eversource Energy Stock Up 1.2 %

Shares of NYSE ES opened at $61.76 on Friday. The business’s fifty day moving average price is $59.30 and its 200-day moving average price is $58.25. Eversource Energy has a one year low of $52.03 and a one year high of $77.53. The stock has a market capitalization of $21.76 billion, a PE ratio of -52.34, a P/E/G ratio of 3.21 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 earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The company’s revenue was down 12.2% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. On average, equities research analysts anticipate that Eversource Energy will post 4.49 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s payout ratio is presently -242.37%.

About Eversource Energy

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.