Shore Point Advisors LLC Acquires Shares of 4,543 Eversource Energy (NYSE:ES)

Shore Point Advisors LLC acquired a new stake in shares of Eversource Energy (NYSE:ESGet Rating) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,543 shares of the utilities provider’s stock, valued at approximately $413,000. Eversource Energy makes up about 0.3% of Shore Point Advisors LLC’s holdings, making the stock its 26th biggest holding.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Lockheed Martin Investment Management Co. acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $3,375,000. Teacher Retirement System of Texas raised its stake in Eversource Energy by 13.6% during the fourth quarter. Teacher Retirement System of Texas now owns 94,413 shares of the utilities provider’s stock valued at $8,590,000 after buying an additional 11,272 shares in the last quarter. Aviva PLC grew its holdings in shares of Eversource Energy by 7.8% during the fourth quarter. Aviva PLC now owns 827,733 shares of the utilities provider’s stock valued at $75,307,000 after purchasing an additional 59,908 shares during the last quarter. Tsfg LLC grew its holdings in shares of Eversource Energy by 44.9% during the fourth quarter. Tsfg LLC now owns 1,330 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 412 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of Eversource Energy by 10.2% during the fourth quarter. HighTower Advisors LLC now owns 33,179 shares of the utilities provider’s stock valued at $3,013,000 after purchasing an additional 3,066 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Shares of ES traded down $1.41 during mid-day trading on Tuesday, reaching $89.13. The company’s stock had a trading volume of 1,562,202 shares, compared to its average volume of 1,903,731. The business has a fifty day moving average of $88.09 and a 200 day moving average of $86.73. The company has a market cap of $30.70 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 3.55 and a beta of 0.42. Eversource Energy has a 1 year low of $78.44 and a 1 year high of $94.63. The company has a quick ratio of 0.51, a current ratio of 0.56 and a debt-to-equity ratio of 1.17.

Eversource Energy (NYSE:ESGet Rating) last released its earnings results on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.10. The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $2.89 billion. Eversource Energy had a return on equity of 9.58% and a net margin of 12.32%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.15 earnings per share. On average, analysts predict that Eversource Energy will post 4.11 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Thursday, May 19th will be issued a $0.6375 dividend. The ex-dividend date of this dividend is Wednesday, May 18th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 2.86%. Eversource Energy’s payout ratio is currently 67.82%.

Several equities analysts have recently commented on the company. Seaport Res Ptn reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, March 28th. Morgan Stanley increased their price objective on Eversource Energy from $90.00 to $97.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 20th. BMO Capital Markets lowered Eversource Energy from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a report on Monday, January 10th. Wolfe Research lowered Eversource Energy from an “outperform” rating to a “peer perform” rating and decreased their price objective for the stock from $87.00 to $85.00 in a report on Wednesday, March 9th. Finally, Bank of America lowered Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 price target for the company. in a research note on Wednesday, February 23rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.75.

In other Eversource Energy news, insider Linda Dorcena Forry sold 1,487 shares of the stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $79.18, for a total transaction of $117,740.66. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP James W. Hunt III sold 4,444 shares of the stock in a transaction on Tuesday, April 5th. The stock was sold at an average price of $90.00, for a total transaction of $399,960.00. Following the transaction, the executive vice president now directly owns 16,115 shares in the company, valued at $1,450,350. The disclosure for this sale can be found here. Insiders sold 8,515 shares of company stock valued at $734,010 in the last 90 days. Corporate insiders own 0.38% of the company’s stock.

Eversource Energy Company Profile (Get Rating)

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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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