Lee Johnson Capital Management LLC Acquires New Position in Eversource Energy $ES

Lee Johnson Capital Management LLC bought a new position in shares of Eversource Energy (NYSE:ES) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 33,588 shares of the utilities provider’s stock, valued at approximately $2,389,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ascent Group LLC grew its stake in shares of Eversource Energy by 30.6% during the third quarter. Ascent Group LLC now owns 28,365 shares of the utilities provider’s stock worth $2,018,000 after purchasing an additional 6,640 shares during the period. Sivia Capital Partners LLC acquired a new position in Eversource Energy in the third quarter valued at about $330,000. Continuum Advisory LLC lifted its stake in Eversource Energy by 184.2% in the third quarter. Continuum Advisory LLC now owns 10,883 shares of the utilities provider’s stock valued at $774,000 after buying an additional 7,053 shares during the period. LifeWealth Investments LLC boosted its holdings in Eversource Energy by 4.7% during the third quarter. LifeWealth Investments LLC now owns 6,133 shares of the utilities provider’s stock worth $436,000 after buying an additional 276 shares during the last quarter. Finally, HM Payson & Co. acquired a new position in shares of Eversource Energy during the 3rd quarter worth about $136,000. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group cut their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. BMO Capital Markets cut their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. JPMorgan Chase & Co. lowered their price objective on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus price target of $71.27.

Eversource Energy Price Performance

Shares of NYSE ES opened at $67.61 on Wednesday. The firm has a market cap of $25.37 billion, a PE ratio of 18.52, a PEG ratio of 2.39 and a beta of 0.76. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25. The company has a fifty day moving average price of $69.53 and a 200 day moving average price of $67.46.

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

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th will be issued a dividend of $0.7525 per share. The ex-dividend date is Wednesday, December 17th. This represents a $3.01 annualized dividend and a yield of 4.5%. Eversource Energy’s dividend payout ratio is presently 82.47%.

Insider Buying and Selling

In related news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.