Eversource Energy (NYSE:ES) Shares Acquired by Spire Wealth Management

Spire Wealth Management increased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 110.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,463 shares of the utilities provider's stock after purchasing an additional 4,434 shares during the period. Spire Wealth Management's holdings in Eversource Energy were worth $526,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ES. Mizuho Bank Ltd. acquired a new position in Eversource Energy during the 4th quarter worth approximately $26,000. Assetmark Inc. grew its holdings 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 acquiring an additional 254 shares during the period. Pinney & Scofield Inc. purchased a new position in Eversource Energy in the fourth quarter worth $33,000. OFI Invest Asset Management acquired a new stake in Eversource Energy in the fourth quarter valued at $35,000. Finally, CoreCap Advisors LLC boosted its position in shares of Eversource Energy by 168.7% during the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after purchasing an additional 383 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Eversource Energy Price Performance

NYSE:ES opened at $63.33 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71. The business's 50-day moving average price is $62.57 and its 200 day moving average price is $60.22. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The firm has a market cap of $23.27 billion, a P/E ratio of 27.30, a PEG ratio of 2.36 and a beta of 0.63.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data 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 11.04% and a net margin of 6.63%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the company earned $1.49 EPS. The business's revenue for the quarter was up 23.6% compared to the same quarter last year. As a group, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be issued a $0.7525 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.75%. Eversource Energy's dividend payout ratio is currently 129.74%.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, the executive vice president now directly owns 10,988 shares in the company, valued at approximately $703,232. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.41% of the company's stock.

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.

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