GAMMA Investing LLC Acquires 418,775 Shares of Eversource Energy (NYSE:ES)

GAMMA Investing LLC raised its holdings in Eversource Energy (NYSE:ES - Free Report) by 7,616.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 424,273 shares of the utilities provider's stock after acquiring an additional 418,775 shares during the period. GAMMA Investing LLC owned about 0.12% of Eversource Energy worth $26,352,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Eversource Energy by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider's stock valued at $2,306,000 after purchasing an additional 9,981 shares in the last quarter. Savant Capital LLC increased its position in shares of Eversource Energy by 2.9% during 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 during the last quarter. LSV Asset Management bought a new stake in Eversource Energy during the fourth quarter worth $2,223,000. JPMorgan Chase & Co. raised its holdings in shares of Eversource Energy by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock valued at $90,146,000 after purchasing an additional 151,562 shares during the period. Finally, Truist Financial Corp raised its stake in Eversource Energy by 5.6% in the fourth quarter. Truist Financial Corp now owns 21,385 shares of the utilities provider's stock valued at $1,228,000 after buying an additional 1,138 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the sale, the executive vice president now 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

Eversource Energy stock traded up $0.20 during midday trading on Friday, hitting $65.50. The company's stock had a trading volume of 2,738,511 shares, compared to its average volume of 2,449,862. 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 company has a market cap of $24.06 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 2.35 and a beta of 0.61. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The company has a 50-day moving average price of $60.54 and a two-hundred day moving average price of $60.05.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting analysts' consensus estimates 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 net margin of 6.82% and a return on equity of 10.99%. The firm's quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.49 earnings per share. As a group, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.60%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Analyst Ratings Changes

Several equities research analysts have issued reports on ES shares. Wells Fargo & Company cut their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. BMO Capital Markets increased their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Guggenheim restated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Three investment 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.78.

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.