SpiderRock Advisors LLC Purchases Shares of 4,477 Eversource Energy (NYSE:ES)

SpiderRock Advisors LLC acquired a new position in shares of Eversource Energy (NYSE:ES) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 4,477 shares of the utilities provider’s stock, valued at approximately $264,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Eversource Energy by 2.2% during the 1st quarter. Principal Financial Group Inc. now owns 402,537 shares of the utilities provider’s stock valued at $24,060,000 after buying an additional 8,736 shares in the last quarter. Sterling Investment Counsel LLC raised its position in shares of Eversource Energy by 5.8% in the 1st quarter. Sterling Investment Counsel LLC now owns 4,367 shares of the utilities provider’s stock valued at $261,000 after purchasing an additional 240 shares during the last quarter. YHB Investment Advisors Inc. acquired a new stake in Eversource Energy in the 1st quarter worth approximately $111,000. Mesirow Financial Investment Management Inc. acquired a new stake in Eversource Energy in the 1st quarter worth approximately $528,000. Finally, MONECO Advisors LLC purchased a new stake in Eversource Energy during the 1st quarter worth approximately $249,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock remained flat at $57.31 during midday trading on Friday. 793,233 shares of the company traded hands, compared to its average volume of 2,575,564. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $74.81. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. The company’s fifty day moving average is $59.06 and its two-hundred day moving average is $58.59. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of -48.69, a P/E/G ratio of 2.21 and a beta of 0.59.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping 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 business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the company posted $1.41 EPS. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, research analysts predict that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date was Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Analysts Set New Price Targets

Several research firms have recently commented on ES. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Morgan Stanley lowered their price target on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Argus cut their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Wells Fargo & Company raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, The Goldman Sachs Group assumed coverage on Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $65.86.

Insider Transactions at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy 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 sale, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at $603,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

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.