GAMMA Investing LLC Invests $85,000 in Eversource Energy (NYSE:ES)

GAMMA Investing LLC bought a new position in Eversource Energy (NYSE:ES) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,381 shares of the utilities provider’s stock, valued at approximately $85,000.

Several other hedge funds have also recently modified their holdings of ES. Exchange Traded Concepts LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth $26,000. UMB Bank n.a. raised its stake in Eversource Energy by 130.9% during the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 364 shares in the last quarter. MV Capital Management Inc. raised its stake in Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 206 shares in the last quarter. CVA Family Office LLC purchased a new stake in Eversource Energy during the fourth quarter valued at $43,000. Finally, Blue Trust Inc. raised its stake in Eversource Energy by 172.7% during the fourth quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. BMO Capital Markets upped their price target on shares of Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th. Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Barclays cut their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, January 22nd. Finally, Argus cut 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 report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $65.85.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, 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. 0.29% of the stock is owned by company insiders.

Eversource Energy Stock Up 1.7 %

NYSE ES opened at $60.46 on Tuesday. The company’s 50-day moving average price is $58.97 and its 200-day moving average price is $57.99. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $78.64.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.92 earnings per share. As a group, sell-side analysts expect that Eversource Energy will post 4.51 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.73%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. Eversource Energy’s dividend payout ratio is presently -226.98%.

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.