AlphaStar Capital Management LLC Invests $417,000 in Eversource Energy $ES

by · The Markets Daily

AlphaStar Capital Management LLC bought a new position in shares of Eversource Energy (NYSE:ESFree Report) during the second quarter, HoldingsChannel.com reports. The institutional investor bought 6,560 shares of the utilities provider’s stock, valued at approximately $417,000.

Other large investors also recently made changes to their positions in the company. Trust Co. of Toledo NA OH bought a new position in shares of Eversource Energy during the second quarter worth approximately $28,000. Hilltop National Bank acquired a new stake in Eversource Energy during the second quarter worth approximately $32,000. Rossby Financial LCC acquired a new stake in Eversource Energy during the first quarter worth approximately $34,000. Zions Bancorporation National Association UT acquired a new stake in Eversource Energy during the first quarter worth approximately $46,000. Finally, Cromwell Holdings LLC grew its position in Eversource Energy by 44.2% during the first quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider’s stock worth $51,000 after buying an additional 254 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.1%

Shares of ES stock opened at $73.89 on Friday. The stock’s fifty day moving average price is $68.92 and its two-hundred day moving average price is $65.50. The company has a market cap of $27.42 billion, a PE ratio of 31.71, a P/E/G ratio of 2.65 and a beta of 0.67. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

Eversource Energy (NYSE:ESGet Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The company’s revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. Equities analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s dividend payout ratio (DPR) is 129.18%.

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on ES. Mizuho increased their price target on Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research report on Monday, October 27th. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Jefferies Financial Group increased their price target on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company began coverage on Eversource Energy in a research report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price target on the stock. Finally, TD Cowen began coverage on Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 price target on the stock. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $70.56.

View Our Latest Analysis on ES

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.

See Also

Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ESFree Report).