GAMMA Investing LLC Acquires 357 Shares of Eversource Energy (NYSE:ES)

GAMMA Investing LLC raised its holdings in shares of Eversource Energy (NYSE:ES) by 25.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,738 shares of the utilities provider’s stock after purchasing an additional 357 shares during the period. GAMMA Investing LLC’s holdings in Eversource Energy were worth $104,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Heritage Wealth Advisors bought a new position in Eversource Energy during the fourth quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new stake in Eversource Energy during the fourth quarter valued at $26,000. Bfsg LLC bought a new stake in shares of Eversource Energy during the 4th quarter valued at about $31,000. Versant Capital Management Inc lifted its stake in shares of Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the period. Finally, Hexagon Capital Partners LLC boosted its holdings in shares of Eversource Energy by 84.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock worth $37,000 after buying an additional 272 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley raised their target price on shares of Eversource Energy from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. Bank of America increased their price target on shares of Eversource Energy from $50.00 to $61.00 and gave the company an “underperform” rating in a report on Wednesday, May 15th. Wells Fargo & Company lifted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Argus dropped their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Finally, Scotiabank cut their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average price target of $66.07.

Insider Activity at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Trading Down 1.4 %

ES opened at $57.18 on Friday. The business’s 50-day moving average is $59.48 and its two-hundred day moving average is $58.83. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. Eversource Energy’s revenue for the quarter was down 12.2% compared to the same quarter last year. Sell-side analysts anticipate that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be paid a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 5.00%. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

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.