Patrick M Sweeney & Associates Inc. Takes $239,000 Position in Eversource Energy (NYSE:ES)

Patrick M Sweeney & Associates Inc. acquired a new position in Eversource Energy (NYSE:ES) during the first quarter, HoldingsChannel.com reports. The fund acquired 3,854 shares of the utilities provider’s stock, valued at approximately $239,000.

Several other large investors have also recently modified their holdings of ES. Yousif Capital Management LLC lifted its position in Eversource Energy by 3.3% during the fourth quarter. Yousif Capital Management LLC now owns 48,576 shares of the utilities provider’s stock valued at $2,790,000 after purchasing an additional 1,542 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Eversource Energy by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after buying an additional 9,981 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Eversource Energy by 0.7% in the fourth quarter. State of Alaska Department of Revenue now owns 41,784 shares of the utilities provider’s stock worth $2,399,000 after buying an additional 270 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its holdings in Eversource Energy by 1.8% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 823,144 shares of the utilities provider’s stock worth $47,273,000 after acquiring an additional 14,771 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Eversource Energy by 6.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,418 shares of the utilities provider’s stock valued at $3,412,000 after acquiring an additional 3,687 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ES shares. Wall Street Zen upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Scotiabank decreased their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company cut their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, BMO Capital Markets lifted their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $65.78.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president now owns 10,988 shares of the company’s stock, valued at approximately $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Trading Up 0.3%

Shares of ES opened at $65.50 on Monday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The firm has a market capitalization of $24.06 billion, a P/E ratio of 28.36, a P/E/G ratio of 2.35 and a beta of 0.63. The firm has a 50-day moving average price of $60.61 and a 200 day moving average price of $60.05. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.50. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Eversource Energy’s revenue was up 23.6% compared to the same quarter last year. During the same period last year, the business posted $1.49 earnings per share. Sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.60%. Eversource Energy’s payout ratio is currently 129.74%.

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.