Flagship Harbor Advisors LLC Acquires 1,089 Shares of Eversource Energy (ES)

Flagship Harbor Advisors LLC raised its holdings in Eversource Energy (NYSE:ES) by 24.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,459 shares of the utilities provider’s stock after acquiring an additional 1,089 shares during the period. Flagship Harbor Advisors LLC’s holdings in Eversource Energy were worth $387,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ES. Public Employees Retirement System of Ohio increased its holdings in shares of Eversource Energy by 1.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 130,650 shares of the utilities provider’s stock worth $8,497,000 after buying an additional 1,234 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new stake in shares of Eversource Energy during the 3rd quarter worth approximately $58,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Eversource Energy during the 4th quarter worth approximately $34,000. Waverton Investment Management Ltd increased its holdings in shares of Eversource Energy by 3.8% during the 4th quarter. Waverton Investment Management Ltd now owns 11,777 shares of the utilities provider’s stock worth $766,000 after buying an additional 429 shares during the last quarter. Finally, Magellan Asset Management Ltd increased its holdings in shares of Eversource Energy by 14.3% during the 4th quarter. Magellan Asset Management Ltd now owns 2,831,554 shares of the utilities provider’s stock worth $184,164,000 after buying an additional 354,280 shares during the last quarter. Institutional investors own 73.99% of the company’s stock.

NYSE:ES opened at $70.15 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.56 and a quick ratio of 0.50. Eversource Energy has a fifty-two week low of $52.76 and a fifty-two week high of $72.26. The company has a market cap of $22.46 billion, a P/E ratio of 21.39, a P/E/G ratio of 3.68 and a beta of 0.31.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, February 20th. The utilities provider reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.02). Eversource Energy had a net margin of 12.23% and a return on equity of 9.18%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. As a group, equities analysts forecast that Eversource Energy will post 3.46 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 3.05%. The ex-dividend date was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.51. Eversource Energy’s dividend payout ratio (DPR) is currently 65.24%.

In other Eversource Energy news, insider Faasen William C. Van sold 2,501 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $70.00, for a total value of $175,070.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Gregory B. Butler sold 11,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $68.63, for a total transaction of $789,245.00. The disclosure for this sale can be found here. Insiders sold a total of 111,201 shares of company stock valued at $7,727,360 in the last three months. 0.37% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on ES shares. Zacks Investment Research cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Tuesday. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, March 18th. Macquarie raised shares of Eversource Energy from a “neutral” rating to an “outperform” rating and set a $73.00 price objective for the company in a research report on Monday, March 4th. Bank of America cut shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 price objective for the company. in a research report on Monday, February 25th. Finally, Guggenheim cut shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Friday, February 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the stock. Eversource Energy has a consensus rating of “Hold” and a consensus target price of $69.60.

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Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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

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