Avidian Wealth Enterprises LLC Purchases New Position in Eversource Energy (NYSE:ES)

Avidian Wealth Enterprises LLC purchased a new position in shares of Eversource Energy (NYSE:ES - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 6,003 shares of the utilities provider's stock, valued at approximately $373,000.

Other hedge funds also recently modified their holdings of the company. Stonebridge Financial Group LLC increased its holdings in shares of Eversource Energy by 15.4% during the 1st quarter. Stonebridge Financial Group LLC now owns 24,425 shares of the utilities provider's stock valued at $1,517,000 after acquiring an additional 3,257 shares during the last quarter. Northcape Wealth Management LLC boosted its position in Eversource Energy by 1.4% during the first quarter. Northcape Wealth Management LLC now owns 31,069 shares of the utilities provider's stock worth $1,930,000 after purchasing an additional 444 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in Eversource Energy by 12.3% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 924,527 shares of the utilities provider's stock valued at $57,422,000 after purchasing an additional 101,383 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Eversource Energy by 13.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 115,079 shares of the utilities provider's stock valued at $7,145,000 after purchasing an additional 13,360 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Eversource Energy by 49.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,294 shares of the utilities provider's stock worth $3,685,000 after buying an additional 20,063 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on ES. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho boosted their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, BMO Capital Markets boosted their target price 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Eversource Energy has an average rating of "Hold" and an average price target of $65.67.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president owned 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

ES stock traded up $0.12 during midday trading on Thursday, hitting $64.57. The stock had a trading volume of 1,470,971 shares, compared to its average volume of 2,489,359. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 27.83, a P/E/G ratio of 2.40 and a beta of 0.62. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The stock has a 50-day simple moving average of $62.97 and a 200 day simple moving average of $60.31. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. During the same quarter in the prior year, the company posted $1.49 EPS. The business's revenue was up 23.6% on a year-over-year basis. As a group, equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were issued a $0.7525 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.66%. Eversource Energy's payout ratio 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.