Edmp Inc. Takes $1.51 Million Position in Eversource Energy (NYSE:ES)

Edmp Inc. bought a new stake in shares of Eversource Energy (NYSE:ES - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 24,227 shares of the utilities provider's stock, valued at approximately $1,505,000.

Several other large investors also recently added to or reduced their stakes in ES. Principal Securities Inc. grew its position in Eversource Energy by 24.5% during the fourth quarter. Principal Securities Inc. now owns 2,093 shares of the utilities provider's stock valued at $120,000 after buying an additional 412 shares during the period. Truist Financial Corp boosted its position in shares of Eversource Energy by 5.6% in the fourth quarter. Truist Financial Corp now owns 21,385 shares of the utilities provider's stock worth $1,228,000 after purchasing an additional 1,138 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after purchasing an additional 301 shares during the period. MONECO Advisors LLC boosted its position in shares of Eversource Energy by 16.3% in the fourth quarter. MONECO Advisors LLC now owns 7,651 shares of the utilities provider's stock worth $439,000 after purchasing an additional 1,073 shares during the period. Finally, IFP Advisors Inc boosted its position in shares of Eversource Energy by 130.4% in the fourth quarter. IFP Advisors Inc now owns 4,037 shares of the utilities provider's stock worth $232,000 after purchasing an additional 2,285 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ES. BMO Capital Markets upped their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Finally, Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.67.

Eversource Energy Price Performance

Shares of NYSE:ES traded up $0.08 during midday trading on Friday, reaching $63.33. 2,858,244 shares of the company were exchanged, compared to its average volume of 2,488,675. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. The business's fifty day moving average is $62.57 and its two-hundred day moving average is $60.22. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The stock has a market cap of $23.27 billion, a PE ratio of 27.30, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63.

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 net margin of 6.63% and a return on equity of 11.04%. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the business 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, analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Thursday, May 15th. Eversource Energy's payout ratio is 129.74%.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the company's 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

Eversource Energy Company 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.