Verition Fund Management LLC Acquires 182,892 Shares of Eversource Energy (NYSE:ES)

Verition Fund Management LLC grew its holdings in Eversource Energy (NYSE:ES) by 196.2% during the 4th quarter, Holdings Channel reports. The firm owned 276,095 shares of the utilities provider’s stock after purchasing an additional 182,892 shares during the period. Verition Fund Management LLC’s holdings in Eversource Energy were worth $17,041,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ES. Heritage Wealth Advisors bought a new position in Eversource Energy during the 4th quarter worth approximately $25,000. Exchange Traded Concepts LLC bought a new position in Eversource Energy in the fourth quarter valued at approximately $26,000. Bfsg LLC bought a new position in Eversource Energy in the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC lifted its stake in Eversource Energy by 84.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock valued at $37,000 after buying an additional 272 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in Eversource Energy in the fourth quarter valued at approximately $43,000. Institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ES shares. Scotiabank cut their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $62.00 in a report on Thursday, February 15th. Argus lowered their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Bank of America lifted their price objective on shares of Eversource Energy from $50.00 to $61.00 and gave the company an “underperform” rating in a report on Wednesday, May 15th. Finally, Morgan Stanley lifted their price objective on shares of Eversource Energy from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average target price of $66.07.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares of the company’s stock, valued at $603,480. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Down 0.4 %

ES traded down $0.25 during trading on Friday, reaching $58.58. 1,944,468 shares of the stock were exchanged, compared to its average volume of 1,915,851. The stock has a market cap of $20.64 billion, a P/E ratio of -49.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $74.81. The stock’s 50 day moving average price is $59.62 and its two-hundred day moving average price is $58.93. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Equities analysts expect that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 4.88%. Eversource Energy’s dividend payout ratio is currently -242.37%.

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.