Vennlight Capital Management LP Buys Shares of 88,171 Eversource Energy (NYSE:ES)

Vennlight Capital Management LP purchased a new position in shares of Eversource Energy (NYSE:ES - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 88,171 shares of the utilities provider's stock, valued at approximately $5,064,000. Eversource Energy makes up approximately 4.8% of Vennlight Capital Management LP's holdings, making the stock its 10th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in ES. Mizuho Bank Ltd. purchased a new position in Eversource Energy during the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC bought a new stake in shares of Eversource Energy in the 4th quarter valued at about $29,000. Assetmark Inc. grew its position in shares of Eversource Energy by 99.2% in the 4th 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 grew its position in shares of Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after buying an additional 301 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Eversource Energy during the 4th quarter worth approximately $35,000. Institutional investors own 79.99% of the company's stock.

Insider Activity at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, 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 disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have issued reports on ES. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Scotiabank dropped their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group reduced their target price on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, Wells Fargo & Company dropped their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $65.78.

Eversource Energy Stock Performance

Eversource Energy stock traded down $0.94 during trading hours on Thursday, hitting $63.02. 1,949,141 shares of the stock traded hands, compared to its average volume of 2,430,140. The firm's 50 day moving average price is $59.82 and its 200-day moving average price is $59.83. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $23.15 billion, a price-to-earnings ratio of 27.28, a P/E/G ratio of 2.35 and a beta of 0.61. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. Eversource Energy's revenue for the quarter was up 23.6% on a year-over-year basis. As a group, equities analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be issued a dividend of $0.7525 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.78%. Eversource Energy's dividend payout ratio (DPR) is presently 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.