Sound Income Strategies LLC Purchases 1,046 Shares of Eversource Energy (NYSE:ES)

Sound Income Strategies LLC increased its holdings in shares of Eversource Energy (NYSE:ES) by 30.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,435 shares of the utilities provider’s stock after buying an additional 1,046 shares during the quarter. Sound Income Strategies LLC’s holdings in Eversource Energy were worth $265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ES. Czech National Bank raised its stake in shares of Eversource Energy by 0.3% in the fourth quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock valued at $3,776,000 after buying an additional 168 shares during the period. Salem Investment Counselors Inc. raised its position in shares of Eversource Energy by 49.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 181 shares in the last quarter. Presima Securities ULC increased its position in Eversource Energy by 1.5% during the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock valued at $847,000 after buying an additional 200 shares in the last quarter. Versant Capital Management Inc boosted its stake in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. Finally, West Branch Capital LLC raised its holdings in Eversource Energy by 14.4% during the fourth quarter. West Branch Capital LLC now owns 1,747 shares of the utilities provider’s stock valued at $108,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total value 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 hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of 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. Insiders own 0.29% of the company’s stock.

Eversource Energy Stock Performance

Shares of NYSE ES traded down $0.90 during midday trading on Tuesday, hitting $57.10. The company’s stock had a trading volume of 1,543,552 shares, compared to its average volume of 2,627,307. The firm has a market cap of $20.11 billion, a P/E ratio of -48.39, a P/E/G ratio of 2.33 and a beta of 0.60. The firm’s fifty day moving average price is $59.48 and its 200-day moving average price is $58.78. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $74.81. 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 released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the firm earned $1.41 EPS. Eversource Energy’s revenue was down 12.2% on a year-over-year basis. On average, sell-side analysts forecast that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 5.01%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Analyst Upgrades and Downgrades

ES has been the subject of a number of recent research reports. Argus reduced their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Wells Fargo & Company upped their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. Finally, Bank of America raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective for the company in a research report on Tuesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.86.

About Eversource Energy

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.