Navellier & Associates Inc. Invests $672,000 in Eversource Energy (NYSE:ES)

Key Points

• Navellier & Associates Inc. has initiated a new investment in Eversource Energy, acquiring 11,330 shares valued at approximately $672,000 in Q1.
• Wall Street analysts have mixed ratings for Eversource Energy, with a consensus rating of "Hold" and an average target price of $65.56.
• Eversource Energy recently declared a quarterly dividend of $0.7525 per share, resulting in an annualized dividend yield of 4.52%.

Navellier & Associates Inc. purchased a new stake in Eversource Energy (NYSE:ES - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 11,330 shares of the utilities provider's stock, valued at approximately $672,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mizuho Bank Ltd. purchased a new position in shares of Eversource Energy in the fourth quarter worth about $26,000. Pinney & Scofield Inc. purchased a new position in shares of Eversource Energy in the fourth quarter worth about $33,000. Rossby Financial LCC purchased a new position in shares of Eversource Energy in the first quarter worth about $34,000. CoreCap Advisors LLC raised its stake in shares of Eversource Energy by 168.7% in the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after purchasing an additional 383 shares during the last quarter. Finally, First Financial Corp IN raised its stake in shares of Eversource Energy by 3,529.4% in the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after purchasing an additional 600 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ES. Bank of America raised their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $58.00 target price (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. BMO Capital Markets raised their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Finally, Mizuho raised their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $65.56.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 2,600 shares of the business'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 transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Eversource Energy Trading Up 0.1%

NYSE:ES traded up $0.07 on Wednesday, reaching $66.44. The company's stock had a trading volume of 366,500 shares, compared to its average volume of 2,725,318. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71. The firm has a market cap of $24.41 billion, a price-to-earnings ratio of 28.66, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62. The stock has a 50 day moving average price of $64.64 and a 200 day moving average price of $61.45.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share 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 business had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. During the same period in the previous year, the firm posted $1.49 earnings per share. The company's revenue was up 23.6% on a year-over-year basis. On average, equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were paid a dividend of $0.7525 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.53%. Eversource Energy's payout ratio is 129.74%.

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.