Prosperity Wealth Management Inc. Acquires 397 Shares of Eversource Energy (NYSE:ES)

Prosperity Wealth Management Inc. grew its holdings in shares of Eversource Energy (NYSE:ES) by 5.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,247 shares of the utilities provider’s stock after buying an additional 397 shares during the period. Prosperity Wealth Management Inc.’s holdings in Eversource Energy were worth $450,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in shares of Eversource Energy by 58.0% in the 4th quarter. Empowered Funds LLC now owns 14,830 shares of the utilities provider’s stock worth $852,000 after purchasing an additional 5,441 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Eversource Energy by 9.4% in the 4th quarter. Van ECK Associates Corp now owns 111,331 shares of the utilities provider’s stock worth $6,393,000 after purchasing an additional 9,611 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Eversource Energy by 5.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 140,325 shares of the utilities provider’s stock worth $8,043,000 after purchasing an additional 6,918 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Eversource Energy by 14.0% in the 4th quarter. Blue Trust Inc. now owns 2,676 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 329 shares in the last quarter. Finally, Principal Securities Inc. lifted its holdings in shares of Eversource Energy by 24.5% in the 4th quarter. Principal Securities Inc. now owns 2,093 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 412 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ES. BMO Capital Markets increased their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Wall Street Zen raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. reissued an “underweight” rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.78.

Eversource Energy Trading Down 1.7%

NYSE ES opened at $63.28 on Wednesday. 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 $23.25 billion, a P/E ratio of 27.28, a PEG ratio of 2.40 and a beta of 0.63. The business has a fifty day simple moving average of $61.65 and a 200 day simple moving average of $60.12. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the firm posted $1.49 EPS. The business’s revenue was up 23.6% compared to the same quarter last year. On average, analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s dividend payout ratio is presently 129.74%.

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.