Sound Income Strategies LLC Purchases 4,270 Shares of Eversource Energy (NYSE:ES)

Sound Income Strategies LLC lifted its position in shares of Eversource Energy (NYSE:ES) by 96.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,705 shares of the utilities provider’s stock after buying an additional 4,270 shares during the quarter. Sound Income Strategies LLC’s holdings in Eversource Energy were worth $494,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Wealth Advisors purchased a new position in shares of Eversource Energy in the fourth quarter worth about $25,000. Lynx Investment Advisory acquired a new stake in shares of Eversource Energy in the second quarter worth approximately $25,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy in the first quarter worth approximately $27,000. Bfsg LLC acquired a new stake in shares of Eversource Energy in the fourth quarter worth approximately $31,000. Finally, Versant Capital Management Inc boosted its stake in shares of Eversource Energy by 62.6% in the first 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. Institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $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 transaction of $562,000.00. Following the sale, the vice president now directly 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 insiders.

Eversource Energy Stock Up 0.1 %

Shares of NYSE:ES traded up $0.06 during trading on Friday, hitting $64.91. The company’s stock had a trading volume of 2,768,930 shares, compared to its average volume of 2,539,002. 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 has a fifty-two week low of $52.03 and a fifty-two week high of $68.72. The stock’s 50-day moving average price is $60.33 and its two-hundred day moving average price is $59.13. The company has a market capitalization of $22.86 billion, a PE ratio of -55.01, a PEG ratio of 2.53 and a beta of 0.59.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. During the same period in the prior year, the company earned $1.00 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. BMO Capital Markets lifted their target price on Eversource Energy from $69.00 to $73.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Barclays upped their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley decreased their price objective on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Finally, Scotiabank reduced their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $67.43.

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.