WealthPLAN Partners LLC Purchases New Shares in Eversource Energy (NYSE:ES)

Posted by Defense World Staff on Aug 21st, 2023

WealthPLAN Partners LLC acquired a new position in Eversource Energy (NYSE:ES – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 524 shares of the utilities provider’s stock, valued at approximately $41,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. South Dakota Investment Council bought a new stake in Eversource Energy in the fourth quarter worth about $386,000. Fox Run Management L.L.C. purchased a new position in Eversource Energy in the fourth quarter valued at approximately $277,000. New York Life Investment Management LLC grew its holdings in Eversource Energy by 0.5% during the fourth quarter. New York Life Investment Management LLC now owns 54,450 shares of the utilities provider’s stock valued at $4,565,000 after purchasing an additional 257 shares during the period. Lincoln National Corp increased its position in Eversource Energy by 8.2% in the fourth quarter. Lincoln National Corp now owns 3,711 shares of the utilities provider’s stock worth $311,000 after buying an additional 281 shares during the last quarter. Finally, Astoria Portfolio Advisors LLC. bought a new stake in shares of Eversource Energy in the first quarter valued at $257,000. Hedge funds and other institutional investors own 83.25% of the company’s stock.

Insider Activity at Eversource Energy

In other news, VP Gregory B. Butler sold 15,000 shares of Eversource Energy stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.25, for a total value of $963,750.00. Following the sale, the vice president now directly owns 63,554 shares in the company, valued at approximately $4,083,344.50. The sale was disclosed in a filing with the SEC, which is available through this link. 0.38% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. BMO Capital Markets decreased their price objective on Eversource Energy from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, August 2nd. Scotiabank upgraded shares of Eversource Energy from a “sector perform” rating to a “sector outperform” rating and set a $91.00 price target on the stock in a research note on Thursday, June 15th. Guggenheim reduced their target price on Eversource Energy from $91.00 to $86.00 in a report on Friday, July 7th. Mizuho lowered their price target on shares of Eversource Energy from $79.00 to $73.00 in a report on Friday, July 28th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Eversource Energy from $87.00 to $78.00 in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $82.73.

Read Our Latest Research Report on Eversource Energy

Eversource Energy Stock Performance

Shares of ES stock opened at $64.47 on Monday. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.64. Eversource Energy has a fifty-two week low of $64.19 and a fifty-two week high of $94.39. The company has a market capitalization of $22.51 billion, a P/E ratio of 19.13, a PEG ratio of 2.60 and a beta of 0.47. The stock has a 50 day moving average price of $70.23 and a two-hundred day moving average price of $74.16.

Eversource Energy (NYSE:ES – Get Free Report) last announced its quarterly earnings results on Monday, July 31st. The utilities provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.09. Eversource Energy had a net margin of 9.28% and a return on equity of 9.78%. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Analysts expect that Eversource Energy will post 4.36 earnings per share for the current year.

Eversource Energy Company 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.