Edgemoor Investment Advisors Inc. Buys 44,372 Shares of Eversource Energy (NYSE:ES)

Edgemoor Investment Advisors Inc. lifted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 235.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,241 shares of the utilities provider's stock after acquiring an additional 44,372 shares during the period. Edgemoor Investment Advisors Inc.'s holdings in Eversource Energy were worth $3,928,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Mizuho Bank Ltd. purchased a new stake in Eversource Energy during the 4th quarter valued at $26,000. Pinney & Scofield Inc. bought a new stake in Eversource Energy during the 4th quarter valued at about $33,000. Rossby Financial LCC purchased a new position in shares of Eversource Energy during the first quarter valued at approximately $34,000. CoreCap Advisors LLC raised its holdings in shares of Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares during the last quarter. Finally, First Financial Corp IN raised its holdings in shares of Eversource Energy by 3,529.4% during the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

Shares of Eversource Energy stock traded up $0.11 during trading hours on Monday, reaching $65.52. The company had a trading volume of 1,378,946 shares, compared to its average volume of 2,499,111. 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 has a one year low of $52.28 and a one year high of $69.01. The firm has a market cap of $24.07 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62. The business has a fifty day simple moving average of $64.20 and a 200 day simple moving average of $61.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 period last year, the business earned $1.49 earnings per share. The business's revenue was up 23.6% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 15th were paid a $0.7525 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.59%. Eversource Energy's dividend payout ratio (DPR) is 129.74%.

Insider Activity

In related 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 owned 10,988 shares in the company, valued at $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

ES has been the topic of a number of research analyst reports. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Bank of America boosted their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday. BMO Capital Markets boosted 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. Mizuho upped their target price 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. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target 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.