Profund Advisors LLC Grows Holdings in Eversource Energy $ES

Profund Advisors LLC grew its stake in shares of Eversource Energy (NYSE:ES) by 27.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,468 shares of the utilities provider’s stock after buying an additional 4,022 shares during the quarter. Profund Advisors LLC’s holdings in Eversource Energy were worth $1,175,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ES. Trust Co. of Toledo NA OH purchased a new position in shares of Eversource Energy in the 2nd quarter worth about $28,000. Hilltop National Bank bought a new stake in Eversource Energy in the 2nd quarter worth approximately $32,000. True Wealth Design LLC boosted its stake in Eversource Energy by 540.0% in the second quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock worth $39,000 after buying an additional 513 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in Eversource Energy during the first quarter valued at approximately $46,000. Finally, Bogart Wealth LLC raised its stake in shares of Eversource Energy by 100.9% during the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 466 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by corporate insiders.

Eversource Energy Trading Up 1.1%

NYSE ES opened at $73.27 on Wednesday. The stock has a market cap of $27.49 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.69. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The stock has a 50 day simple moving average of $70.17 and a two-hundred day simple moving average of $66.31. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. On average, analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s payout ratio is presently 82.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen initiated coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective for the company. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Wells Fargo & Company assumed coverage on Eversource Energy in a report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price objective on the stock. BMO Capital Markets lowered their target price on 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. Finally, Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $72.70.

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.