Los Angeles Capital Management LLC Increases Position in Eversource Energy (NYSE:ES)

Los Angeles Capital Management LLC boosted its holdings in Eversource Energy (NYSE:ES - Free Report) by 51.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 182,844 shares of the utilities provider's stock after buying an additional 61,732 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of Eversource Energy worth $11,285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new position in Eversource Energy during the fourth quarter valued at approximately $26,000. Bfsg LLC acquired a new stake in Eversource Energy during the 4th quarter worth $31,000. Hexagon Capital Partners LLC lifted its holdings in Eversource Energy by 84.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider's stock worth $37,000 after acquiring an additional 272 shares in the last quarter. MV Capital Management Inc. grew its stake in Eversource Energy by 40.4% in the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider's stock valued at $42,000 after acquiring an additional 206 shares during the period. Finally, CVA Family Office LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $43,000. 79.99% of the stock is owned by institutional investors.

Insider Activity

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares of the company's stock, valued at approximately $609,388.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the transaction, the insider now owns 21,621 shares of the company's stock, valued at $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy 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 completion of the transaction, the insider now directly owns 10,485 shares of the company's stock, 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 Price Performance

NYSE:ES traded down $0.74 during trading hours on Friday, hitting $60.01. The company's stock had a trading volume of 3,447,870 shares, compared to its average volume of 2,016,408. 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 market capitalization of $21.05 billion, a P/E ratio of -50.86, a PEG ratio of 3.21 and a beta of 0.57. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $77.97. The stock has a fifty day simple moving average of $59.17 and a 200-day simple moving average of $58.14.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the business posted $1.41 earnings per share. The company's quarterly revenue was down 12.2% on a year-over-year basis. On average, analysts anticipate that Eversource Energy will post 4.49 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.77%. The ex-dividend date is Wednesday, May 15th. Eversource Energy's dividend payout ratio (DPR) is currently -242.37%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ES. Mizuho raised Eversource Energy from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday. Citigroup raised their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a "neutral" rating in a report on Thursday, February 15th. The Goldman Sachs Group started coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a "buy" rating and a $73.00 price target for the company. Finally, Scotiabank lowered their price target on Eversource Energy from $61.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and an average price target of $66.23.

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.