PFG Advisors Makes New $304,000 Investment in Eversource Energy $ES

PFG Advisors acquired a new position in shares of Eversource Energy (NYSE:ES) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,776 shares of the utilities provider’s stock, valued at approximately $304,000.

Other institutional investors also recently modified their holdings of the company. Ballentine Partners LLC increased its holdings in Eversource Energy by 4.9% during the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 277 shares in the last quarter. Stephens Inc. AR acquired a new position in Eversource Energy in the first quarter worth $2,717,000. CWM LLC grew its holdings in shares of Eversource Energy by 14.8% during the first quarter. CWM LLC now owns 41,257 shares of the utilities provider’s stock worth $2,562,000 after purchasing an additional 5,330 shares during the last quarter. MQS Management LLC bought a new stake in shares of Eversource Energy during the first quarter worth $202,000. Finally, Apollon Wealth Management LLC increased its stake in shares of Eversource Energy by 3.5% in the first quarter. Apollon Wealth Management LLC now owns 9,642 shares of the utilities provider’s stock valued at $599,000 after buying an additional 330 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.4%

Shares of NYSE:ES opened at $73.61 on Thursday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The stock has a market cap of $27.62 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 2.63 and a beta of 0.69. The company has a 50 day moving average of $70.38 and a 200-day moving average of $66.36. Eversource Energy has a one year low of $52.28 and a one year high of $75.25.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm earned $1.13 earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share 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 given a $0.7525 dividend. 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 (DPR) is currently 82.47%.

Analyst Upgrades and Downgrades

ES has been the subject of a number of research analyst reports. Wells Fargo & Company initiated coverage on Eversource Energy in a report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price target for the company. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Thursday, November 6th. BMO Capital Markets dropped 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 note on Thursday, November 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Finally, TD Cowen began coverage on shares of Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target for the company. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $72.70.

Insiders Place Their Bets

In related news, insider Loretta D. Keane acquired 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares of the company’s stock, valued at $795,020.31. This trade represents a 45.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $300,467.33. Following the completion of the transaction, the executive vice president directly owned 32,415 shares in the company, valued at $2,358,839.55. The trade was a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.41% of the stock is owned by insiders.

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.