Fiduciary Financial Group LLC Makes New Investment in Eversource Energy (NYSE:ES)

Fiduciary Financial Group LLC purchased a new position in Eversource Energy (NYSE:ES - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,525 shares of the utilities provider's stock, valued at approximately $281,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ES. Savant Capital LLC boosted its position in shares of Eversource Energy by 2.9% in the 4th quarter. Savant Capital LLC now owns 12,202 shares of the utilities provider's stock worth $701,000 after purchasing an additional 347 shares in the last quarter. LSV Asset Management bought a new stake in shares of Eversource Energy during the 4th quarter valued at about $2,223,000. JPMorgan Chase & Co. raised its position in Eversource Energy by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock worth $90,146,000 after acquiring an additional 151,562 shares during the period. Truist Financial Corp grew its holdings in Eversource Energy by 5.6% during the fourth quarter. Truist Financial Corp now owns 21,385 shares of the utilities provider's stock valued at $1,228,000 after purchasing an additional 1,138 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Eversource Energy by 9.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider's stock valued at $31,455,000 after purchasing an additional 47,189 shares in the last quarter. Institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Up 0.0%

NYSE ES traded up $0.01 during trading on Thursday, hitting $65.56. The stock had a trading volume of 304,182 shares, compared to its average volume of 2,446,392. The company has a market capitalization of $24.09 billion, a PE ratio of 28.38, a P/E/G ratio of 2.35 and a beta of 0.63. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01. The company's 50-day moving average price is $60.89 and its two-hundred day moving average price is $60.14.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting analysts' consensus estimates of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates 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 quarter last year, the company earned $1.49 EPS. As a group, sell-side analysts forecast 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 will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.59%. Eversource Energy's dividend payout ratio is currently 129.74%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ES. BMO Capital Markets upped their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Scotiabank reduced their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company decreased their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. 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 previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Eversource Energy presently has a consensus rating of "Hold" and a consensus target price of $65.78.

Insider Activity at Eversource Energy

In other Eversource Energy 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 transaction of $166,400.00. Following the completion of the sale, the executive vice president now owns 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

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.