ProShare Advisors LLC Grows Stock Holdings in Eversource Energy (NYSE:ES)

ProShare Advisors LLC grew its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,879 shares of the utilities provider's stock after purchasing an additional 6,053 shares during the quarter. ProShare Advisors LLC's holdings in Eversource Energy were worth $4,760,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Mizuho Bank Ltd. acquired a new position in Eversource Energy in the 4th quarter worth $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $29,000. Assetmark Inc. increased its stake in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after buying an additional 254 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock valued at $34,000 after acquiring an additional 301 shares in the last quarter. Finally, CoreCap Advisors LLC boosted its stake in Eversource Energy by 168.7% during the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 383 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. This represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. This trade represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

Eversource Energy Trading Up 0.6%

Eversource Energy stock opened at $63.56 on Tuesday. 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 firm has a 50-day moving average price of $59.66 and a two-hundred day moving average price of $59.77. The firm has a market capitalization of $23.35 billion, a price-to-earnings ratio of 27.52, a PEG ratio of 2.35 and a beta of 0.61. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01.

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 for the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The business's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.7525 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.74%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Wall Street Analyst Weigh In

ES has been the topic of several research reports. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. BMO Capital Markets increased their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Jefferies Financial Group decreased their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a report on Tuesday, January 28th. Barclays lowered their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Eversource Energy presently has an average rating of "Hold" and a consensus price target of $65.78.

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.

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