Merit Financial Group LLC Grows Stock Holdings in Eversource Energy (NYSE:ES)

Merit Financial Group LLC grew its stake in Eversource Energy (NYSE:ES) by 35.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,131 shares of the utilities provider’s stock after purchasing an additional 1,611 shares during the period. Merit Financial Group LLC’s holdings in Eversource Energy were worth $352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brooklyn Investment Group acquired a new position in Eversource Energy in the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new position in Eversource Energy in the third quarter valued at approximately $32,000. UMB Bank n.a. grew its position in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 198 shares during the period. Larson Financial Group LLC increased its stake in Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC purchased a new stake in Eversource Energy in the third quarter valued at $48,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.1 %

ES stock opened at $56.31 on Friday. Eversource Energy has a fifty-two week low of $52.71 and a fifty-two week high of $69.01. The company’s 50 day moving average price is $59.12 and its 200 day moving average price is $62.87. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The firm has a market capitalization of $20.63 billion, a price-to-earnings ratio of -35.87, a PEG ratio of 2.13 and a beta of 0.62.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the business earned $0.97 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were paid a $0.715 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.08%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target for the company. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their target price for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Barclays dropped their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Finally, BMO Capital Markets cut their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.83.

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.