PFG Investments LLC Takes Position in Eversource Energy (NYSE:ES)

PFG Investments LLC purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 18,590 shares of the utilities provider's stock, valued at approximately $1,111,000.

A number of other hedge funds have also recently made changes to their positions in ES. Heritage Wealth Advisors acquired a new position in shares of Eversource Energy in the fourth quarter worth approximately $25,000. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy in the fourth quarter worth approximately $26,000. Rise Advisors LLC acquired a new position in shares of Eversource Energy in the first quarter worth approximately $27,000. Bfsg LLC acquired a new position in shares of Eversource Energy in the fourth quarter worth approximately $31,000. Finally, Versant Capital Management Inc lifted its stake in shares of Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider's stock worth $31,000 after acquiring an additional 201 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

Shares of NYSE ES traded down $1.06 during trading on Friday, reaching $59.46. 1,590,695 shares of the stock traded hands, compared to its average volume of 1,747,319. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $78.64. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The company has a 50-day moving average of $58.94 and a 200-day moving average of $57.95. The stock has a market capitalization of $20.85 billion, a P/E ratio of -47.19, a price-to-earnings-growth ratio of 3.22 and a beta of 0.58.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.97 by ($0.02). The company had revenue of $2.69 billion for the quarter, compared to analysts' expectations of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The business's revenue for the quarter was down 11.1% on a year-over-year basis. During the same period last year, the company posted $0.92 EPS. Analysts forecast that Eversource Energy will post 4.51 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.86 annualized dividend and a dividend yield of 4.81%. This is a boost from Eversource Energy's previous quarterly dividend of $0.68. Eversource Energy's dividend payout ratio (DPR) is presently -226.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ES. StockNews.com raised Eversource Energy to a "sell" rating in a research note on Thursday, March 28th. Mizuho upgraded Eversource Energy from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $54.00 to $62.00 in a report on Thursday, February 15th. Citigroup upped their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, February 15th. Wells Fargo & Company upped their price target on Eversource Energy from $67.00 to $69.00 and gave the stock an "overweight" rating in a report on Tuesday, January 9th. Finally, The Goldman Sachs Group initiated coverage on Eversource Energy in a report on Wednesday, April 10th. They set a "buy" rating and a $73.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.85.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company's stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. Insiders own 0.41% of the company's stock.

Eversource Energy 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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