AE Wealth Management LLC Raises Stock Holdings in Eversource Energy (NYSE:ES)

Key Points

• AE Wealth Management LLC increased its holdings in Eversource Energy by 192.5%, owning 59,895 shares valued at $3.72 million at the end of the last reporting period.
• Insider trading showed EVP Penelope M. Conner sold 2,600 shares at $64.00 each, representing a 19.13% decrease in her position.
• Wall Street analysts have mixed views on Eversource Energy, with a consensus rating of "Hold" and average target prices ranging from $58.00 to $72.00.

AE Wealth Management LLC lifted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 192.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,895 shares of the utilities provider's stock after acquiring an additional 39,420 shares during the quarter. AE Wealth Management LLC's holdings in Eversource Energy were worth $3,720,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Sterling Investment Counsel LLC grew its position 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 valued at $255,000 after acquiring an additional 190 shares during the period. Ascent Group LLC increased its position in shares of Eversource Energy by 1.2% during the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock valued at $1,129,000 after buying an additional 230 shares during the period. Cromwell Holdings LLC grew its stake in shares of Eversource Energy by 44.2% in the first quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock worth $51,000 after acquiring an additional 254 shares during the last quarter. First Manhattan CO. LLC. boosted its holdings in 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 purchasing an additional 255 shares during the last quarter. Finally, Private Advisor Group LLC boosted its position in shares of Eversource Energy by 1.8% in the first quarter. Private Advisor Group LLC now owns 15,595 shares of the utilities provider's stock worth $969,000 after purchasing an additional 270 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ES shares. BMO Capital Markets increased their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Bank of America raised their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. 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 report on Thursday, April 10th. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a report 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. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of "Hold" and a consensus target price of $65.56.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was 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 directly 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 filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company's stock.

Eversource Energy Stock Performance

NYSE:ES traded up $0.58 during midday trading on Tuesday, reaching $65.76. The stock had a trading volume of 352,523 shares, compared to its average volume of 2,731,458. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The stock has a market cap of $24.16 billion, a P/E ratio of 28.34, a P/E/G ratio of 2.49 and a beta of 0.62. The firm has a fifty day simple moving average of $64.62 and a two-hundred day simple moving average of $61.41. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results 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 return on equity of 11.04% and a net margin of 6.63%. 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 company posted $1.49 EPS. The firm's quarterly revenue was up 23.6% on a year-over-year basis. On average, equities analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.58%. The ex-dividend date was Thursday, May 15th. Eversource Energy's payout ratio is 129.74%.

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.