Icon Wealth Advisors LLC Takes $709,000 Position in Eversource Energy (NYSE:ES)

Icon Wealth Advisors LLC bought a new stake in Eversource Energy (NYSE:ESFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,492 shares of the utilities provider’s stock, valued at approximately $709,000.

A number of other hedge funds have also made changes to their positions in ES. Norges Bank bought a new stake in shares of Eversource Energy in the 4th quarter worth about $149,906,000. Morgan Stanley increased its position in shares of Eversource Energy by 19.3% in the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock worth $259,595,000 after purchasing an additional 723,318 shares during the last quarter. American Century Companies Inc. increased its position in shares of Eversource Energy by 23.7% in the 3rd quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock worth $213,005,000 after purchasing an additional 702,360 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Eversource Energy by 1,551.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 708,437 shares of the utilities provider’s stock worth $41,196,000 after purchasing an additional 665,540 shares during the last quarter. Finally, Clean Energy Transition LLP bought a new stake in shares of Eversource Energy in the 4th quarter worth about $40,181,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup lifted their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Morgan Stanley lifted their price target 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. Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Scotiabank reduced their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, Argus reduced their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.07.

Read Our Latest Research Report on ES

Eversource Energy Price Performance

Shares of ES stock traded down $0.30 during midday trading on Tuesday, reaching $58.74. 122,589 shares of the company were exchanged, compared to its average volume of 2,663,308. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $74.81. The company’s 50 day moving average price is $59.62 and its two-hundred day moving average price is $58.92. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ESGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates 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 company 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 firm earned $1.41 EPS. Eversource Energy’s revenue was down 12.2% on a year-over-year basis. As a group, analysts forecast that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.87%. Eversource Energy’s payout ratio is currently -242.37%.

Eversource Energy Profile

(Free Report)

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.

Further Reading

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

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