GAMMA Investing LLC Acquires 4,131 Shares of Eversource Energy (NYSE:ES)

GAMMA Investing LLC boosted its holdings in shares of Eversource Energy (NYSE:ES) by 237.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,869 shares of the utilities provider’s stock after purchasing an additional 4,131 shares during the period. GAMMA Investing LLC’s holdings in Eversource Energy were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Eversource Energy by 172.7% in the 4th quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 480 shares during the last quarter. Private Trust Co. NA increased its holdings in Eversource Energy by 13.5% in the fourth quarter. Private Trust Co. NA now owns 2,107 shares of the utilities provider’s stock valued at $130,000 after purchasing an additional 251 shares during the period. International Assets Investment Management LLC acquired a new stake in Eversource Energy in the fourth quarter valued at $98,360,000. Prime Capital Investment Advisors LLC increased its holdings in Eversource Energy by 88.6% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 11,679 shares of the utilities provider’s stock valued at $721,000 after purchasing an additional 5,486 shares during the period. Finally, Stratos Wealth Advisors LLC increased its holdings in Eversource Energy by 58.3% in the fourth quarter. Stratos Wealth Advisors LLC now owns 28,688 shares of the utilities provider’s stock valued at $1,771,000 after purchasing an additional 10,566 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Transactions at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the firm’s 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 transaction, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $158,625.00. Following the sale, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded down $2.09 during trading on Monday, hitting $65.02. The stock had a trading volume of 1,937,885 shares, compared to its average volume of 2,538,878. The firm has a market cap of $22.90 billion, a price-to-earnings ratio of -56.87, a P/E/G ratio of 2.53 and a beta of 0.59. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $68.72. The business’s 50-day moving average is $59.57 and its 200 day moving average is $58.75. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. 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 previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ES. Bank of America upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective for the company in a report on Tuesday, June 25th. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets lifted their target price on shares of Eversource Energy from $69.00 to $73.00 and gave the stock a “market perform” rating in a research report on Monday. Barclays lifted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. Finally, Morgan Stanley lowered their price target on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $67.43.

Eversource Energy 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.