GAMMA Investing LLC Purchases 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% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 424,273 shares of the utilities provider's stock after buying an additional 418,775 shares during the quarter. GAMMA Investing LLC owned 0.12% of Eversource Energy worth $26,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ES. Mizuho Bank Ltd. bought a new stake in Eversource Energy in the 4th quarter valued at about $26,000. Kestra Investment Management LLC acquired a new stake in Eversource Energy in the fourth quarter valued at approximately $29,000. Assetmark Inc. grew its stake in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 254 shares during the period. Pinney & Scofield Inc. bought a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC raised its position in shares of Eversource Energy by 104.5% during the fourth 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. 79.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ES. BMO Capital Markets lifted their price target 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. Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Scotiabank lowered their target price on shares of 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, Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $65.78.

Eversource Energy Stock Up 0.3%

Eversource Energy stock traded up $0.20 during midday trading on Friday, hitting $65.50. 2,738,511 shares of the stock were exchanged, compared to its average volume of 2,456,758. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The business's 50-day moving average price is $60.61 and its 200-day moving average price is $60.05. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of 28.36, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.49 EPS. On average, research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm 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 $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 4.60%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.41% of the company's stock.

About Eversource Energy

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.