Arkadios Wealth Advisors Acquires New Position in Eversource Energy (NYSE:ES)

Key Points

• Arkadios Wealth Advisors has invested approximately $921,000 in Eversource Energy, acquiring 14,835 shares during the first quarter of the year.
• Multiple institutional investors, including Ballentine Partners LLC and Farther Finance Advisors LLC, have also increased their stakes in Eversource Energy, reflecting growing interest in the utilities sector.
• Current analyst ratings on Eversource Energy are mixed, with several firms upgrading their ratings and price targets, while others maintain a more cautious approach, resulting in a consensus rating of "Hold" with a target price of $65.56.

Arkadios Wealth Advisors acquired a new stake in Eversource Energy (NYSE:ES - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 14,835 shares of the utilities provider's stock, valued at approximately $921,000.

Other institutional investors have also recently made changes to their positions in the company. Sterling Investment Counsel LLC lifted its holdings in shares of Eversource Energy by 4.9% in the 1st quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock worth $255,000 after acquiring an additional 190 shares during the last quarter. Ascent Group LLC lifted its stake in Eversource Energy by 1.2% in the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock worth $1,129,000 after purchasing an additional 230 shares during the last quarter. Advisor OS LLC boosted its position in shares of Eversource Energy by 4.2% during the first quarter. Advisor OS LLC now owns 5,694 shares of the utilities provider's stock valued at $354,000 after buying an additional 232 shares during the period. Cromwell Holdings LLC grew its stake in shares of Eversource Energy by 44.2% during the first quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock valued at $51,000 after buying an additional 254 shares during the last quarter. Finally, First Manhattan CO. LLC. raised its holdings in shares of Eversource Energy by 2.9% in the fourth quarter. First Manhattan CO. LLC. now owns 9,131 shares of the utilities provider's stock worth $524,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy 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 directly owned 10,988 shares in the company, valued at $703,232. This trade represents a 19.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company's stock.

Eversource Energy Stock Down 0.8%

Shares of NYSE ES traded down $0.54 during midday trading on Tuesday, hitting $65.92. The company's stock had a trading volume of 1,606,882 shares, compared to its average volume of 2,079,968. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The business's fifty day simple moving average is $64.84 and its two-hundred day simple moving average is $61.73. The firm has a market capitalization of $24.22 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.10% and a net margin of 6.60%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. On average, equities analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America boosted their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Mizuho boosted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, BMO Capital Markets increased their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and an average target price of $65.56.

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.