Royal Fund Management LLC Invests $61,000 in Eversource Energy (NYSE:ES)

Royal Fund Management LLC acquired a new position in shares of Eversource Energy (NYSE:ES) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 786 shares of the utilities provider’s stock, valued at approximately $61,000.

Several other hedge funds also recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Eversource Energy by 5.5% during the 1st quarter. BlackRock Inc. now owns 30,425,832 shares of the utilities provider’s stock worth $2,379,604,000 after acquiring an additional 1,575,796 shares during the period. State Street Corp increased its position in Eversource Energy by 5.2% during the 4th quarter. State Street Corp now owns 18,208,105 shares of the utilities provider’s stock worth $1,548,963,000 after purchasing an additional 893,951 shares in the last quarter. Magellan Asset Management Ltd increased its position in Eversource Energy by 57.9% during the 4th quarter. Magellan Asset Management Ltd now owns 16,049,012 shares of the utilities provider’s stock worth $1,365,289,000 after purchasing an additional 5,882,982 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Eversource Energy by 91.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 8,467,337 shares of the utilities provider’s stock worth $720,317,000 after purchasing an additional 4,052,069 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Eversource Energy by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 5,372,544 shares of the utilities provider’s stock worth $456,166,000 after purchasing an additional 269,719 shares in the last quarter. Institutional investors and hedge funds own 81.45% of the company’s stock.

In other news, VP Jay S. Buth sold 1,330 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $86.67, for a total transaction of $115,271.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by company insiders.

ES has been the subject of a number of research analyst reports. UBS Group dropped their target price on shares of Eversource Energy from $91.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Janney Montgomery Scott raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Tuesday, May 12th. Barclays dropped their target price on shares of Eversource Energy from $90.00 to $88.00 and set an “equal weight” rating for the company in a research report on Friday. Citigroup dropped their target price on shares of Eversource Energy from $88.00 to $82.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Finally, KeyCorp increased their target price on shares of Eversource Energy from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $89.44.

ES stock opened at $78.46 on Friday. Eversource Energy has a twelve month low of $60.69 and a twelve month high of $99.42. The company has a current ratio of 0.75, a quick ratio of 0.67 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $26.52 billion, a P/E ratio of 27.53, a PEG ratio of 3.54 and a beta of 0.36. The firm has a 50 day simple moving average of $82.46 and a 200-day simple moving average of $84.82.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.01 by $0.01. Eversource Energy had a net margin of 11.02% and a return on equity of 9.16%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $0.97 earnings per share. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts predict that Eversource Energy will post 3.64 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 20th will be given a dividend of $0.5675 per share. This represents a $2.27 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date is Tuesday, May 19th. Eversource Energy’s payout ratio is currently 65.80%.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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

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