Patrick M Sweeney & Associates Inc. Makes New $239,000 Investment in Eversource Energy (NYSE:ES)

Patrick M Sweeney & Associates Inc. acquired a new stake in Eversource Energy (NYSE:ES - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,854 shares of the utilities provider's stock, valued at approximately $239,000.

Other large investors have also made changes to their positions in the company. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $29,000. Assetmark Inc. lifted its stake in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Pinney & Scofield Inc. purchased a new stake in shares of Eversource Energy in the 4th quarter valued at $33,000. Finally, Venturi Wealth Management LLC lifted its position in shares of Eversource Energy by 104.5% during 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 in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the sale, the executive vice president now owns 10,988 shares in the company, valued at $703,232. The trade was a 19.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

Eversource Energy Price Performance

ES traded up $0.28 on Thursday, hitting $65.83. 1,634,400 shares of the company were exchanged, compared to its average volume of 2,451,379. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market capitalization of $24.18 billion, a P/E ratio of 28.50, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63. The business's fifty day moving average is $60.89 and its 200 day moving average is $60.14.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the company posted $1.49 EPS. The business's revenue was up 23.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a $0.7525 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.57%. Eversource Energy's dividend payout ratio is currently 129.74%.

Analysts Set New Price Targets

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

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.