Mork Capital Management LLC Takes $999,000 Position in Eversource Energy (NYSE:ES)

Mork Capital Management LLC purchased a new position in Eversource Energy (NYSE:ES - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,400 shares of the utilities provider's stock, valued at approximately $999,000.

A number of other large investors also recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its stake in Eversource Energy by 10.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider's stock worth $107,000 after buying an additional 176 shares in the last quarter. UMB Bank n.a. increased its stake in Eversource Energy by 38.4% during the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider's stock worth $41,000 after buying an additional 197 shares in the last quarter. Summit Trail Advisors LLC increased its stake in Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider's stock worth $281,000 after buying an additional 216 shares in the last quarter. Keybank National Association OH increased its stake in Eversource Energy by 2.6% during the 4th quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider's stock worth $522,000 after buying an additional 233 shares in the last quarter. Finally, Whittier Trust Co. increased its stake in Eversource Energy by 3.3% during the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider's stock worth $444,000 after buying an additional 245 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now directly owns 22,671 shares of the company's stock, valued at approximately $1,411,496.46. The trade was a 12.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jay S. Buth sold 980 shares of Eversource Energy 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 completion of the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at $1,535,318.26. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

ES has been the subject of several research reports. StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. Scotiabank dropped their price target on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Jefferies Financial Group dropped their price target on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. Finally, Barclays dropped their price target on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $65.78.

Eversource Energy Stock Performance

Shares of ES stock traded up $0.85 during mid-day trading on Friday, hitting $63.23. 2,129,339 shares of the stock were exchanged, compared to its average volume of 2,413,793. The stock's fifty day simple moving average is $59.53 and its two-hundred day simple moving average is $59.86. The stock has a market capitalization of $23.23 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.35 and a beta of 0.61. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

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

Eversource Energy Announces Dividend

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 paid 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 dividend yield of 4.76%. Eversource Energy's dividend payout ratio (DPR) is 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.