Somerset Trust Co Acquires 4,468 Shares of Eversource Energy (NYSE:ES)

Somerset Trust Co raised its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,823 shares of the utilities provider's stock after buying an additional 4,468 shares during the period. Somerset Trust Co's holdings in Eversource Energy were worth $2,473,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of research firms have commented on ES. Wells Fargo & Company lowered their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. BMO Capital Markets boosted their target price on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Scotiabank cut their price target 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. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $65.78.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the firm's 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 completion of the sale, the executive vice president now owns 10,988 shares of the company's stock, valued at $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Stock Up 0.6%

Shares of ES stock traded up $0.41 during mid-day trading on Tuesday, reaching $65.33. 2,927,961 shares of the company's stock traded hands, compared to its average volume of 2,436,400. The company's 50-day moving average price is $60.31 and its 200-day moving average price is $59.96. The company has a market cap of $24.00 billion, a P/E ratio of 28.28, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01.

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

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.61%. Eversource Energy's payout ratio is presently 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.