AMF Tjanstepension AB Purchases 350,167 Shares of Eversource Energy (NYSE:ES)

AMF Tjanstepension AB grew its position in shares of Eversource Energy (NYSE:ES) by 219.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 509,846 shares of the utilities provider’s stock after acquiring an additional 350,167 shares during the quarter. AMF Tjanstepension AB’s holdings in Eversource Energy were worth $30,528,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Heritage Wealth Advisors acquired a new stake in Eversource Energy in the 4th quarter valued at $25,000. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy during the fourth quarter valued at about $26,000. Rise Advisors LLC acquired a new position in shares of Eversource Energy during the first quarter valued at about $27,000. Bfsg LLC bought a new stake in shares of Eversource Energy during the fourth quarter worth about $31,000. Finally, Versant Capital Management Inc raised its holdings in shares of Eversource Energy by 62.6% in the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 201 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on ES. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. BMO Capital Markets increased their price target on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. StockNews.com raised shares of Eversource Energy to a “sell” rating in a report on Thursday, March 28th. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price for the company. Finally, Argus cut their price target on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $65.86.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,700 shares of the company’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 directly owns 10,272 shares in the company, valued at approximately $603,480. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory B. Butler sold 10,000 shares of the business’s 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 in the company, valued at $3,586,009.60. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Stock Performance

ES traded down $0.47 during midday trading on Friday, reaching $56.72. The company had a trading volume of 3,215,778 shares, compared to its average volume of 2,611,303. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $74.81. The business has a 50-day moving average price of $59.35 and a two-hundred day moving average price of $58.73. The stock has a market cap of $19.98 billion, a PE ratio of -48.07, a P/E/G ratio of 2.20 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. Eversource Energy’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, sell-side analysts expect that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed 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. This represents a $2.86 annualized dividend and a yield of 5.04%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is currently -242.37%.

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.