Arvest Investments Inc. Takes $934,000 Position in Eversource Energy (NYSE:ES)

Arvest Investments Inc. bought a new stake in Eversource Energy (NYSE:ES - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,035 shares of the utilities provider's stock, valued at approximately $934,000.

A number of other large investors have also recently made changes to their positions in ES. Apollon Wealth Management LLC grew its position in shares of Eversource Energy by 19.4% during the fourth quarter. Apollon Wealth Management LLC now owns 9,312 shares of the utilities provider's stock worth $535,000 after acquiring an additional 1,513 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Eversource Energy by 58.0% during the 4th quarter. Empowered Funds LLC now owns 14,830 shares of the utilities provider's stock worth $852,000 after purchasing an additional 5,441 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Eversource Energy by 2.9% during the 4th quarter. Savant Capital LLC now owns 12,202 shares of the utilities provider's stock worth $701,000 after purchasing an additional 347 shares during the last quarter. Summit Trail Advisors LLC lifted its position in Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider's stock worth $281,000 after buying an additional 216 shares during the period. Finally, Quent Capital LLC raised its position in shares of Eversource Energy by 34.9% in the 4th quarter. Quent Capital LLC now owns 1,885 shares of the utilities provider's stock worth $108,000 after buying an additional 488 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the sale, the executive vice president now owns 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

ES has been the subject of a number of analyst reports. Scotiabank reduced their price target on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. reissued an "underweight" rating and set a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, BMO Capital Markets lifted their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Eversource Energy currently has an average rating of "Hold" and a consensus price target of $65.78.

Eversource Energy Price Performance

Shares of NYSE ES traded down $0.67 during mid-day trading on Friday, hitting $65.13. 1,750,663 shares of the stock traded hands, compared to its average volume of 2,457,337. The company has a market cap of $23.93 billion, a PE ratio of 28.19, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The firm has a 50 day simple moving average of $61.10 and a two-hundred day simple moving average of $60.15.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting analysts' consensus estimates of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the firm earned $1.49 earnings per share. Eversource Energy's revenue for the quarter was up 23.6% on a year-over-year basis. As a group, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

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.