Tyche Wealth Partners LLC Takes Position in Eversource Energy (NYSE:ES)

Tyche Wealth Partners LLC acquired a new position in Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,690 shares of the utilities provider’s stock, valued at approximately $228,000.

Several other hedge funds have also recently bought and sold shares of ES. Quarry LP lifted its stake in Eversource Energy by 275.0% in the 1st quarter. Quarry LP now owns 315 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 231 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in Eversource Energy in the 4th quarter worth about $26,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Eversource Energy during the 4th quarter worth about $27,000. UMB Bank n.a. raised its stake in shares of Eversource Energy by 130.9% during the 3rd quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 364 shares in the last quarter. Finally, MV Capital Management Inc. raised its stake in shares of Eversource Energy by 40.4% during the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 206 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. StockNews.com raised Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Argus cut their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Barclays cut their price target on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, Wells Fargo & Company raised their price target on Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $66.08.

Eversource Energy Stock Performance

ES opened at $58.99 on Friday. The stock’s 50 day moving average price is $58.50 and its two-hundred day moving average price is $57.78. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $79.92.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. Sell-side analysts predict that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a $0.715 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a yield of 4.85%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

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.