Steel Grove Capital Advisors LLC Boosts Position in Eversource Energy (NYSE:ES)

Steel Grove Capital Advisors LLC increased its position in shares of Eversource Energy (NYSE:ES) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,948 shares of the utilities provider’s stock after acquiring an additional 849 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Eversource Energy were worth $1,860,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its position in Eversource Energy by 14.0% in the fourth quarter. Blue Trust Inc. now owns 2,676 shares of the utilities provider’s stock worth $154,000 after acquiring an additional 329 shares during the period. Principal Securities Inc. lifted its stake 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 valued at $120,000 after purchasing an additional 412 shares during the last quarter. Allworth Financial LP grew its holdings in shares of Eversource Energy by 19.6% during the 4th quarter. Allworth Financial LP now owns 9,285 shares of the utilities provider’s stock worth $518,000 after purchasing an additional 1,522 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Eversource Energy by 1.0% during the 4th quarter. Principal Financial Group Inc. now owns 418,205 shares of the utilities provider’s stock worth $24,018,000 after purchasing an additional 4,331 shares during the period. Finally, CIBC Asset Management Inc increased its position in shares of Eversource Energy by 6.5% during the 4th quarter. CIBC Asset Management Inc now owns 55,454 shares of the utilities provider’s stock worth $3,185,000 after purchasing an additional 3,400 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ES. BMO Capital Markets upped their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $58.00 price objective (down previously 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 issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $65.78.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the transaction, the executive vice president now owns 10,988 shares in the company, valued at $703,232. The trade was a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Trading Down 1.3%

Shares of ES stock opened at $62.37 on Thursday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a 50 day moving average price of $61.77 and a 200 day moving average price of $60.14. The stock has a market capitalization of $22.91 billion, a P/E ratio of 26.88, a price-to-earnings-growth 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 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results 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 net margin of 6.63% and a return on equity of 11.04%. The company had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the company posted $1.49 EPS. The firm’s revenue was up 23.6% compared to the same quarter last year. Equities research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.83%. Eversource Energy’s dividend payout ratio (DPR) is 129.74%.

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.