Arete Wealth Advisors LLC Takes Position in Eversource Energy (NYSE:ES)

Posted by Defense World Staff on Sep 16th, 2023

Arete Wealth Advisors LLC purchased a new stake in shares of Eversource Energy (NYSE:ES – Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,137 shares of the utilities provider’s stock, valued at approximately $701,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Delta Asset Management LLC TN bought a new position in shares of Eversource Energy during the fourth quarter valued at $25,000. Lakewood Asset Management LLC bought a new position in Eversource Energy in the fourth quarter valued at about $25,000. Quarry LP lifted its holdings in Eversource Energy by 275.0% in the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 231 shares during the period. New Hampshire Trust bought a new position in Eversource Energy in the fourth quarter valued at about $27,000. Finally, Resurgent Financial Advisors LLC bought a new position in Eversource Energy in the fourth quarter valued at about $27,000. 80.83% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ES. StockNews.com began coverage on Eversource Energy in a report on Thursday, August 17th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. lowered their target price on Eversource Energy from $87.00 to $78.00 in a report on Wednesday, June 7th. Scotiabank raised Eversource Energy from a “sector perform” rating to a “sector outperform” rating and set a $91.00 price objective on the stock in a research note on Thursday, June 15th. BMO Capital Markets decreased their price objective on Eversource Energy from $77.00 to $75.00 and set a “market perform” rating on the stock in a research note on Wednesday, August 2nd. Finally, Barclays started coverage on Eversource Energy in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $72.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $81.33.

Read Our Latest Stock Report on ES

Eversource Energy Stock Performance

NYSE:ES opened at $64.21 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.57 and a debt-to-equity ratio of 1.40. Eversource Energy has a 12-month low of $60.37 and a 12-month high of $89.84. The stock has a 50-day moving average price of $67.41 and a 200 day moving average price of $72.09. The stock has a market capitalization of $22.42 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.55 and a beta of 0.48.

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

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Monday, September 25th will be given a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 4.20%. Eversource Energy’s dividend payout ratio is currently 80.12%.

Insider Buying and Selling

In other Eversource Energy news, VP Gregory B. Butler sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $64.25, for a total transaction of $963,750.00. Following the completion of the transaction, the vice president now owns 63,554 shares in the company, valued at approximately $4,083,344.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.41% of the stock is currently owned by company insiders.

About Eversource Energy

(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.