Sound Income Strategies LLC Has $16.54 Million Stock Position in Eversource Energy (NYSE:ES)

Sound Income Strategies LLC raised its position in Eversource Energy (NYSE:ES) by 3,061.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 266,242 shares of the utilities provider’s stock after acquiring an additional 257,821 shares during the period. Sound Income Strategies LLC owned about 0.07% of Eversource Energy worth $16,536,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ES. Ascent Group LLC raised its holdings in shares of Eversource Energy by 1.2% in the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider’s stock worth $1,129,000 after buying an additional 230 shares in the last quarter. Keybank National Association OH raised its holdings in shares of Eversource Energy by 2.6% in the 4th quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after buying an additional 233 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock worth $444,000 after buying an additional 245 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares in the last quarter. Finally, First Manhattan CO. LLC. raised its holdings in shares of Eversource Energy by 2.9% in the 4th quarter. First Manhattan CO. LLC. now owns 9,131 shares of the utilities provider’s stock worth $524,000 after buying an additional 255 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Down 1.0%

Shares of ES opened at $65.13 on Friday. The firm has a market capitalization of $23.93 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.35 and a beta of 0.63. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The business’s fifty day moving average price is $61.31 and its two-hundred day moving average price is $60.13. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts’ consensus estimates of $1.50. The firm had revenue of $4.12 billion for 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%. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. During the same period last year, the company earned $1.49 EPS. On average, analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend on an annualized basis and a dividend yield of 4.62%. Eversource Energy’s dividend payout ratio (DPR) is presently 129.74%.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction on 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 of the company’s stock, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.