Victory Capital Management Inc. Boosts Position in Eversource Energy (NYSE:ES)

Victory Capital Management Inc. boosted its position in shares of Eversource Energy (NYSE:ES - Free Report) by 106.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 446,122 shares of the utilities provider's stock after acquiring an additional 230,461 shares during the quarter. Victory Capital Management Inc. owned 0.12% of Eversource Energy worth $27,709,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Sterling Investment Counsel LLC grew its holdings in Eversource Energy by 4.9% during the 1st quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock valued at $255,000 after buying an additional 190 shares in the last quarter. Ascent Group LLC lifted its stake in shares of Eversource Energy by 1.2% in the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock valued at $1,129,000 after purchasing an additional 230 shares during the last quarter. Cromwell Holdings LLC lifted its stake in shares of Eversource Energy by 44.2% during the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock worth $51,000 after acquiring an additional 254 shares during the last quarter. First Manhattan CO. LLC. lifted its stake in shares of Eversource Energy by 2.9% during the 4th quarter. First Manhattan CO. LLC. now owns 9,131 shares of the utilities provider's stock worth $524,000 after acquiring an additional 255 shares during the last quarter. Finally, Ballentine Partners LLC lifted its stake in shares of Eversource Energy by 4.9% during the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock worth $369,000 after acquiring an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Performance

NYSE:ES opened at $65.52 on Tuesday. The firm has a market capitalization of $24.07 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.44 and a beta of 0.62. The business's fifty day moving average price is $64.20 and its 200 day moving average price is $61.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. 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 announced its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the prior year, the firm earned $1.49 earnings per share. The business's quarterly revenue was up 23.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were given a $0.7525 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.59%. Eversource Energy's payout ratio is currently 129.74%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Bank of America lifted their price target on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. BMO Capital Markets lifted their price target on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Mizuho raised their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Three 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $65.56.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy 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 directly owned 10,988 shares in the company, valued at approximately $703,232. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

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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