Los Angeles Capital Management LLC Grows Stake in Eversource Energy $ES

Los Angeles Capital Management LLC raised its stake in shares of Eversource Energy (NYSE:ES) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,702 shares of the utilities provider’s stock after purchasing an additional 1,757 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of Eversource Energy worth $18,685,000 at the end of the most recent reporting period.

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

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider directly 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 acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group lifted their price target on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, October 22nd. Wells Fargo & Company began coverage on shares of Eversource Energy in a research note on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price target on the stock. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Finally, BMO Capital Markets reduced their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $72.70.

Eversource Energy Stock Up 2.1%

Shares of NYSE:ES opened at $73.07 on Friday. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25. The stock has a market cap of $27.12 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.62 and a beta of 0.69. The firm has a fifty day moving average price of $69.81 and a 200 day moving average price of $66.04. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63.

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, beating the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.19% and a net margin of 10.22%.The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.13 EPS. Sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio is 82.47%.

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.