LSV Asset Management Buys 209,014 Shares of Eversource Energy $ES

LSV Asset Management raised its stake in Eversource Energy (NYSE:ES) by 135.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 363,014 shares of the utilities provider’s stock after purchasing an additional 209,014 shares during the period. LSV Asset Management owned 0.10% of Eversource Energy worth $23,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Trust Co. of Toledo NA OH acquired a new position in Eversource Energy during the 2nd quarter worth approximately $28,000. Hilltop National Bank bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $32,000. True Wealth Design LLC increased its holdings in shares of Eversource Energy by 540.0% during the second quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 513 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Eversource Energy during the first quarter worth approximately $46,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Eversource Energy by 100.9% in the 2nd quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES opened at $74.56 on Wednesday. The stock has a 50 day moving average of $71.21 and a 200 day moving average of $66.82. The company has a market capitalization of $27.97 billion, a price-to-earnings ratio of 20.43, a PEG ratio of 2.66 and a beta of 0.69. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. As a group, sell-side 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. Investors of record on Monday, September 22nd were paid a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.0%. Eversource Energy’s dividend payout ratio is presently 82.47%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ES. Scotiabank upped their price objective on shares of Eversource Energy from $55.00 to $64.00 and gave the stock a “sector underperform” rating in a report on Wednesday, November 5th. Wells Fargo & Company assumed coverage on shares of Eversource Energy in a research report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 target price for the company. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Finally, UBS Group lowered Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Thursday, November 6th. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.70.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $300,467.33. Following the sale, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is currently owned by corporate insiders.

About Eversource Energy

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.