Eversource Energy (NYSE:ES) Holdings Boosted by Two Sigma Advisers LP

Two Sigma Advisers LP raised its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 1,079.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 95,500 shares of the utilities provider's stock after acquiring an additional 87,400 shares during the period. Two Sigma Advisers LP's holdings in Eversource Energy were worth $5,485,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mizuho Bank Ltd. acquired a new position in Eversource Energy during the 4th quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in Eversource Energy during the 4th quarter worth approximately $29,000. Assetmark Inc. increased its position in Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after purchasing an additional 254 shares during the period. Venturi Wealth Management LLC increased its position in Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after purchasing an additional 301 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Eversource Energy during the 4th quarter worth approximately $35,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Down 1.9%

NYSE ES traded down $1.20 during trading hours on Wednesday, hitting $63.41. The company had a trading volume of 1,692,848 shares, compared to its average volume of 2,427,249. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a market capitalization of $23.30 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The firm's 50 day moving average is $59.98 and its 200 day moving average is $59.88.

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 for the quarter, meeting the consensus estimate of $1.50. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The company's revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm earned $1.49 earnings per share. Sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.75%. Eversource Energy's dividend payout ratio is presently 129.74%.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ES shares. Jefferies Financial Group dropped their target price on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Scotiabank lowered their price target on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Finally, Wall Street Zen upgraded 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Eversource Energy currently has a consensus rating of "Hold" and an average price target of $65.78.

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.