Fox Run Management L.L.C. Makes New $749,000 Investment in Eversource Energy $ES

Fox Run Management L.L.C. purchased a new stake in Eversource Energy (NYSE:ES) during the second quarter, Holdings Channel reports. The fund purchased 11,770 shares of the utilities provider’s stock, valued at approximately $749,000.

A number of other hedge funds have also recently made changes to their positions in ES. Vanguard Group Inc. raised its position in Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock valued at $2,792,559,000 after purchasing an additional 351,780 shares during the period. Wellington Management Group LLP grew its stake in shares of Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after buying an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd lifted its stake in Eversource Energy by 6.2% during the 1st quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock worth $427,090,000 after acquiring an additional 401,866 shares in the last quarter. Invesco Ltd. lifted its stake in Eversource Energy by 0.5% during the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock worth $374,920,000 after acquiring an additional 32,304 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Eversource Energy by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock valued at $354,177,000 after acquiring an additional 185,146 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Eversource Energy Price Performance

Shares of ES opened at $73.07 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The firm’s fifty day simple moving average is $69.81 and its 200-day simple moving average is $66.10. The firm has a market capitalization of $27.12 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 2.62 and a beta of 0.69. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.Eversource Energy’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.13 earnings per share. Equities analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.1%. Eversource Energy’s payout ratio is presently 82.47%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ES. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a research report on Thursday. Jefferies Financial Group upped their price objective on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. Finally, TD Cowen initiated coverage on Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $72.70.

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.