Royal Fund Management LLC Purchases Shares of 786 Eversource Energy (NYSE:ES)

Royal Fund Management LLC purchased a new stake in shares of Eversource Energy (NYSE:ES) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 786 shares of the utilities provider’s stock, valued at approximately $61,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Northwestern Mutual Investment Management Company LLC increased its position in shares of Eversource Energy by 34.3% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 16,889 shares of the utilities provider’s stock valued at $1,321,000 after acquiring an additional 4,312 shares during the last quarter. AGF Investments Inc. acquired a new stake in shares of Eversource Energy during the first quarter valued at about $2,895,000. Commerce Bank increased its position in shares of Eversource Energy by 2.1% during the first quarter. Commerce Bank now owns 349,700 shares of the utilities provider’s stock valued at $27,350,000 after acquiring an additional 7,050 shares during the last quarter. Citizens Financial Group Inc RI increased its position in shares of Eversource Energy by 3,304.5% during the first quarter. Citizens Financial Group Inc RI now owns 1,498 shares of the utilities provider’s stock valued at $117,000 after acquiring an additional 1,454 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Eversource Energy by 116.9% during the first quarter. PNC Financial Services Group Inc. now owns 1,151,454 shares of the utilities provider’s stock valued at $90,056,000 after acquiring an additional 620,574 shares during the last quarter. Institutional investors and hedge funds own 81.45% of the company’s stock.

A number of research analysts recently weighed in on ES shares. Morgan Stanley dropped their price objective on shares of Eversource Energy from $83.00 to $75.00 and set an “underweight” rating for the company in a report on Friday, May 15th. Barclays dropped their price objective on shares of Eversource Energy from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Friday. BMO Capital Markets started coverage on shares of Eversource Energy in a report on Wednesday, February 19th. They issued an “outperform” rating and a $100.00 price objective for the company. Zacks Investment Research upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $96.00 price objective for the company in a report on Monday, April 13th. Finally, UBS Group dropped their price objective on shares of Eversource Energy from $91.00 to $82.00 and set a “neutral” rating for the company in a report on Friday, May 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $89.44.

Shares of Eversource Energy stock opened at $78.46 on Friday. Eversource Energy has a 52-week low of $60.69 and a 52-week high of $99.42. The company has a 50 day moving average of $82.46 and a 200 day moving average of $84.82. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $26.52 billion, a P/E ratio of 27.53, a P/E/G ratio of 3.54 and a beta of 0.36.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Eversource Energy had a net margin of 11.02% and a return on equity of 9.16%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm earned $0.97 earnings per share. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. As a group, research analysts anticipate that Eversource Energy will post 3.64 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.5675 per share. The ex-dividend date is Tuesday, May 19th. This represents a $2.27 annualized dividend and a dividend yield of 2.89%. Eversource Energy’s dividend payout ratio is presently 65.80%.

In other news, VP Jay S. Buth sold 1,330 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $86.67, for a total transaction of $115,271.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Eversource Energy Company 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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