Wedge Capital Management L L P NC Acquires Shares of 112,737 Eversource Energy (NYSE:ES)

Wedge Capital Management L L P NC bought a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 112,737 shares of the utilities provider's stock, valued at approximately $7,002,000.

Several other large investors have also modified their holdings of the business. Park Avenue Securities LLC raised its position in shares of Eversource Energy by 2.0% in the 1st quarter. Park Avenue Securities LLC now owns 14,756 shares of the utilities provider's stock worth $917,000 after acquiring an additional 295 shares in the last quarter. Miracle Mile Advisors LLC bought a new stake in Eversource Energy during the first quarter valued at about $208,000. Pine Haven Investment Counsel Inc purchased a new position in Eversource Energy in the first quarter valued at about $214,000. Vest Financial LLC bought a new position in Eversource Energy in the first quarter worth about $60,273,000. Finally, Thrive Wealth Management LLC purchased a new stake in shares of Eversource Energy during the first quarter valued at about $326,000. Institutional investors own 79.99% of the company's stock.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ES shares. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. BMO Capital Markets raised their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Scotiabank reduced their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research report on Thursday, February 13th. 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 report on Thursday, February 13th. Finally, Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.78.

Eversource Energy Stock Performance

Shares of NYSE:ES traded up $0.28 during trading on Thursday, hitting $65.83. The stock had a trading volume of 1,634,400 shares, compared to its average volume of 2,451,379. 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. The stock has a market capitalization of $24.18 billion, a price-to-earnings ratio of 28.50, a price-to-earnings-growth ratio of 2.35 and a beta of 0.63. The stock has a 50-day simple moving average of $60.89 and a two-hundred day simple moving average of $60.14.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. During the same period last year, the firm posted $1.49 EPS. Eversource Energy's revenue for the quarter was up 23.6% compared to the same quarter last year. On average, equities research analysts expect that Eversource Energy will post 4.75 earnings per share 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 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 4.57%. Eversource Energy's dividend payout ratio 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.