Spire Wealth Management Has $526,000 Position in Eversource Energy (NYSE:ES)

Spire Wealth Management boosted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 110.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,463 shares of the utilities provider's stock after acquiring an additional 4,434 shares during the quarter. Spire Wealth Management's holdings in Eversource Energy were worth $526,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after purchasing an additional 1,387,072 shares during the last quarter. Wellington Management Group LLP increased its stake in Eversource Energy by 38.6% in the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after purchasing an additional 4,585,232 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Eversource Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider's stock worth $570,500,000 after purchasing an additional 226,972 shares during the last quarter. Geode Capital Management LLC raised its holdings in Eversource Energy by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock worth $547,550,000 after purchasing an additional 517,042 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Eversource Energy by 4.8% during the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock worth $422,259,000 after purchasing an additional 333,529 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Trading Up 0.0%

Shares of Eversource Energy stock traded up $0.02 on Wednesday, reaching $64.57. 994,351 shares of the company were exchanged, compared to its average volume of 2,488,157. The stock has a fifty day moving average price of $62.84 and a 200-day moving average price of $60.28. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.37 and a beta of 0.62. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. 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 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 company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the business earned $1.49 EPS. The company's revenue was up 23.6% on a year-over-year basis. On average, analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were issued a $0.7525 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.66%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ES shares. BMO Capital Markets raised their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $65.67.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction dated 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 transaction, the executive vice president owned 10,988 shares of the company's stock, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

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.