Accurate Wealth Management LLC has made a significant move by raising its position in Eversource Energy (NYSE:ES), as reported in their latest 13F filing with the US Securities and Exchange Commission (SEC). This institutional investor has added 1,574 shares to their holdings, indicating a growth rate of 129.0% during the first quarter of the year. Their present ownership stands at 2,794 shares, which is valued at $225,000 as per their most recent filing with the SEC.
Eversource Energy last announced its quarterly earnings data on May 3rd, and it came out positive. The utilities provider recorded an earnings per share of $1.41 for the quarter, surpassing the consensus estimates of analysts by $0.07 ($1.34). The company’s revenue during this period was also higher than anticipated, standing at $3.80 billion compared to a predicted amount of $3.24 billion. Furthermore, Eversource Energy has shown steady growth over the years, with a return on equity of 9.51% and a net margin of 11.52%. In fact, during this quarter, their revenue surged by 9.3% on a YoY basis compared to the same period last year.
The public utility holding company operates through four business segments – Electric Distribution; Electric Transmission; Natural Gas Distribution; and Water Distribution – thus involved in transmission and distribution services for electricity and natural gas across multiple regions within USA such as Massachusetts, Connecticut and New Hampshire.
Eversource Energy has also taken an eco-friendly approach towards energy delivery by investing into solar power facilities, allowing conscious customers access to renewable energy options that can further support a sustainable future for society.
Overall it is evident that Accurate Wealth Management LLC had an eye for investment when deciding to increase its position in Eversouce Energy stock market offerings as they continue to achieve strong results by delivering efficient electricity and gas services, diversifying their business portfolio and being part of a sustainable future. It will certainly be worthy watching how Eversouce Energy progresses in the coming months after steadily managing to increase its profits over time while increasing its customer base and branching into other energy delivery areas.
[bs_slider_forecast ticker=”ES”]
Eversource Energy’s Stock Market Position and Dividend Yield
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”ES” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Eversource Energy, the public utility holding company, has seen an increase in its position on the stock market due to the modification of holdings by hedge funds and other institutional investors. Companies such as Appleton Partners Inc., United Capital Financial Advisers LLC, Thrivent Financial for Lutherans, Sentry Investment Management LLC, and Edmond DE Rothschild Holding S.A. have reported owning shares of Eversource Energy. The company has a 12-month low of $67.79 and a 12-month high of $94.41 with a current stock price of $69.73.
The company operates through four main business segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. These businesses engage in the transmission and distribution of electricity as well as natural gas distribution.
Despite being downgraded twice in the past month by JPMorgan Chase & Co. and UBS Group investment analysts from their initial analysis reports, Morgan Stanley upped its price objective on Eversource Energy from $82 to $86 with an “equal weight” rating while Guggenheim maintained a “buy” rating on this stock.
Investors should note that Eversource Energy recently disclosed a quarterly dividend which is set to be paid out on Friday June 30th to shareholders who were recorded as owning shares on Thursday May 18th. The dividend will provide investors with $0.675 per share making this year’s annualized payout reach $2.70 resulting in an attractive dividend yield of 3.87% .
With the current status quo in the energy market it is difficult to establish Eversource Energy’s long-term growth potential however based on data collected from Bloomberg.com there are currently eight analysts rating this particular stock as ‘hold’ while four analysts have given it a ‘buy’ rating with an average target price for ES at roughly $86.57 per share..
