15,035 Shares in Eversource Energy (NYSE:ES) Acquired by Arvest Investments Inc.

Arvest Investments Inc. purchased a new stake in Eversource Energy (NYSE:ES) in the 1st quarter, according to its most recent filing with the SEC. The fund purchased 15,035 shares of the utilities provider’s stock, valued at approximately $934,000.

Other large investors also recently made changes to their positions in the company. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy during the fourth quarter worth $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth $29,000. Assetmark Inc. boosted its holdings in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy during the fourth quarter worth $33,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.4%

NYSE:ES opened at $65.83 on Friday. The business’s 50-day moving average is $61.10 and its two-hundred day moving average is $60.15. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. 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 $24.18 billion, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63.

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

Eversource Energy Announces Dividend

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 paid a dividend of $0.7525 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.57%. Eversource Energy’s dividend payout ratio is presently 129.74%.

Analysts Set New Price Targets

Several research analysts recently weighed in on ES shares. Scotiabank cut their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Wall Street Zen raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Wells Fargo & Company cut their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. 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 research report on Monday, April 28th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.78.

Insider Activity

In other 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 completion of the sale, the executive vice president now directly owns 10,988 shares in the company, valued at $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company’s stock.

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.