Simplicity Wealth LLC Purchases New Position in Eversource Energy (NYSE:ES)

Simplicity Wealth LLC purchased a new position in Eversource Energy (NYSE:ES) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,754 shares of the utilities provider’s stock, valued at approximately $344,000.

Several other hedge funds also recently made changes to their positions in ES. Heritage Wealth Advisors purchased a new stake in shares of Eversource Energy in the 4th quarter valued at about $25,000. Exchange Traded Concepts LLC bought a new position in shares of Eversource Energy during the 4th quarter valued at about $26,000. Rise Advisors LLC purchased a new position in shares of Eversource Energy during the 1st quarter valued at about $27,000. Bfsg LLC purchased a new position in shares of Eversource Energy during the 4th quarter valued at about $31,000. Finally, Versant Capital Management Inc lifted its position in 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 buying an additional 201 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Down 3.8 %

Shares of NYSE:ES traded down $2.28 during midday trading on Thursday, reaching $57.53. The company’s stock had a trading volume of 1,776,560 shares, compared to its average volume of 2,746,597. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The firm has a 50 day moving average of $59.67 and a 200-day moving average of $58.76. The firm has a market capitalization of $20.27 billion, a P/E ratio of -48.75, a PEG ratio of 2.50 and a beta of 0.57. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $74.81.

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

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Wall Street Analyst Weigh In

ES has been the topic of several research reports. The Goldman Sachs Group started coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective for the company. Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. Scotiabank dropped their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Bank of America lifted their price target on Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $65.86.

Insiders Place Their Bets

In other news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.