Thrive Wealth Management LLC Takes Position in Eversource Energy (NYSE:ES)

Thrive Wealth Management LLC purchased a new stake in Eversource Energy (NYSE:ES - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 5,256 shares of the utilities provider's stock, valued at approximately $326,000.

Several other hedge funds have also recently bought and sold shares of the company. Apella Capital LLC increased its stake in Eversource Energy by 10.5% in the 1st quarter. Apella Capital LLC now owns 4,079 shares of the utilities provider's stock valued at $253,000 after purchasing an additional 389 shares in the last quarter. First Financial Corp IN increased its stake in Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares in the last quarter. RFG Advisory LLC purchased a new position in Eversource Energy in the 1st quarter valued at approximately $215,000. Merit Financial Group LLC increased its stake in Eversource Energy by 34.4% in the 1st quarter. Merit Financial Group LLC now owns 8,243 shares of the utilities provider's stock valued at $512,000 after purchasing an additional 2,112 shares in the last quarter. Finally, NBC Securities Inc. increased its stake in Eversource Energy by 119,900.0% in the 1st quarter. NBC Securities Inc. now owns 2,400 shares of the utilities provider's stock valued at $149,000 after purchasing an additional 2,398 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

ES has been the subject of several research analyst reports. Scotiabank dropped their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research note on Thursday, February 13th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Wells Fargo & Company dropped 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. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three equities 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $65.78.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $65.25 on Friday. The company has a market cap of $23.97 billion, a P/E ratio of 28.25, 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 52 week low of $52.28 and a 52 week high of $69.01. The business has a fifty day simple moving average of $60.54 and a 200-day simple moving average of $60.05.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.49 earnings per share. Equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio is currently 129.74%.

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.

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