Profund Advisors LLC Acquires 6,413 Shares of Eversource Energy (NYSE:ES)

Profund Advisors LLC increased its holdings in shares of Eversource Energy (NYSE:ES) by 49.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,450 shares of the utilities provider’s stock after acquiring an additional 6,413 shares during the quarter. Profund Advisors LLC’s holdings in Eversource Energy were worth $1,103,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. D.A. Davidson & CO. increased its holdings in Eversource Energy by 1.4% in the 4th quarter. D.A. Davidson & CO. now owns 20,055 shares of the utilities provider’s stock worth $1,238,000 after purchasing an additional 268 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Eversource Energy by 151.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,437 shares of the utilities provider’s stock valued at $89,000 after buying an additional 865 shares during the last quarter. SageView Advisory Group LLC boosted its position in Eversource Energy by 9.4% during the 4th quarter. SageView Advisory Group LLC now owns 9,293 shares of the utilities provider’s stock worth $574,000 after buying an additional 801 shares during the period. Orion Portfolio Solutions LLC grew its holdings in Eversource Energy by 2.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,613 shares of the utilities provider’s stock worth $667,000 after acquiring an additional 283 shares during the last quarter. Finally, Congress Wealth Management LLC DE increased its position in Eversource Energy by 46.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 5,063 shares of the utilities provider’s stock valued at $313,000 after acquiring an additional 1,611 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ES. Wells Fargo & Company increased their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets lowered their price objective on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research report on Monday, August 19th. Barclays upped their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Morgan Stanley boosted their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Bank of America boosted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus price target of $68.93.

Eversource Energy Price Performance

ES stock opened at $66.53 on Tuesday. The company has a market capitalization of $23.44 billion, a P/E ratio of -56.38, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The business has a 50-day simple moving average of $65.78 and a two-hundred day simple moving average of $61.41. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. Research analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Monday, September 23rd. Eversource Energy’s payout ratio is -242.37%.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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.