PFG Advisors Makes New Investment in Eversource Energy $ES

PFG Advisors purchased a new position in Eversource Energy (NYSE:ES) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 4,776 shares of the utilities provider’s stock, valued at approximately $304,000.

A number of other hedge funds also recently modified their holdings of ES. Ballentine Partners LLC grew its position in shares of Eversource Energy by 4.9% in the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 277 shares during the period. Stephens Inc. AR acquired a new stake in Eversource Energy during the 1st quarter worth approximately $2,717,000. CWM LLC lifted its stake in Eversource Energy by 14.8% in the first quarter. CWM LLC now owns 41,257 shares of the utilities provider’s stock valued at $2,562,000 after buying an additional 5,330 shares in the last quarter. MQS Management LLC bought a new position in Eversource Energy in the first quarter valued at approximately $202,000. Finally, Apollon Wealth Management LLC boosted its holdings in shares of Eversource Energy by 3.5% in the first quarter. Apollon Wealth Management LLC now owns 9,642 shares of the utilities provider’s stock valued at $599,000 after buying an additional 330 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the transaction, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Loretta D. Keane purchased 3,780 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the purchase, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

NYSE:ES opened at $73.61 on Thursday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25. The company has a market cap of $27.62 billion, a P/E ratio of 20.17, a P/E/G ratio of 2.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The stock’s 50-day simple moving average is $70.38 and its 200 day simple moving average is $66.36.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.13 earnings per share. As a group, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.7525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Analysts Set New Price Targets

ES has been the topic of a number of research analyst reports. Wells Fargo & Company began coverage on shares of Eversource Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective on the stock. Jefferies Financial Group increased their target price on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, October 22nd. BMO Capital Markets dropped their price target on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. Scotiabank boosted their price target on Eversource Energy from $55.00 to $64.00 and gave the company a “sector underperform” rating in a report on Wednesday, November 5th. Finally, TD Cowen assumed coverage on Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus price target of $72.70.

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.