Lake Street Advisors Group LLC Acquires 694 Shares of Eversource Energy (NYSE:ES)

Lake Street Advisors Group LLC boosted its holdings in shares of Eversource Energy (NYSE:ES) by 15.5% during the 1st quarter, Holdings Channel reports. The firm owned 5,184 shares of the utilities provider’s stock after buying an additional 694 shares during the period. Lake Street Advisors Group LLC’s holdings in Eversource Energy were worth $310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC increased its stake in Eversource Energy by 38.7% in the 4th quarter. HB Wealth Management LLC now owns 6,027 shares of the utilities provider’s stock worth $372,000 after acquiring an additional 1,682 shares during the last quarter. CVA Family Office LLC purchased a new stake in shares of Eversource Energy in the 4th quarter worth $43,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Eversource Energy by 1.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 157,797 shares of the utilities provider’s stock worth $9,739,000 after buying an additional 2,914 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in shares of Eversource Energy in the 4th quarter worth $743,000. Finally, Trueblood Wealth Management LLC purchased a new stake in shares of Eversource Energy during the 4th quarter worth $303,000. Institutional investors own 79.99% of the company’s stock.

Insider Activity

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

Eversource Energy Price Performance

ES stock traded up $0.90 during mid-day trading on Thursday, reaching $63.93. 678,734 shares of the company’s stock were exchanged, compared to its average volume of 2,504,764. The company has a market cap of $22.52 billion, a price-to-earnings ratio of -53.97, a price-to-earnings-growth ratio of 2.32 and a beta of 0.59. The stock’s 50 day moving average is $58.82 and its 200 day moving average is $58.37. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $74.75.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. Eversource Energy’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 earnings per share. On average, research analysts expect that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 4.47%. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ES shares. Barclays upped their price objective on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday. Scotiabank cut their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Bank of America raised Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective on the stock in a report on Tuesday, June 25th. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $67.00 in a report on Thursday, April 4th. Finally, StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, July 19th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $66.43.

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.