Eversource Energy (NYSE:ES) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Eversource Energy (NYSE:ES) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,609,716 shares of the utilities provider’s stock after acquiring an additional 1,387,072 shares during the quarter. Vanguard Group Inc. owned approximately 12.18% of Eversource Energy worth $2,561,936,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of ES. Kestra Investment Management LLC purchased a new position in shares of Eversource Energy during the 4th quarter worth about $29,000. Assetmark Inc. raised its stake in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares during the period. Brooklyn Investment Group acquired a new position in shares of Eversource Energy in the 3rd quarter valued at $31,000. Venturi Wealth Management LLC grew its stake in shares of Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after buying an additional 301 shares during the period. Finally, OFI Invest Asset Management purchased a new stake in shares of Eversource Energy during the 4th quarter valued at $35,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Trading Down 3.1 %

NYSE:ES opened at $59.00 on Wednesday. The stock has a market cap of $21.66 billion, a price-to-earnings ratio of 25.54, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. Eversource Energy has a one year low of $54.75 and a one year high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The business’s 50-day simple moving average is $60.10 and its 200 day simple moving average is $61.69.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.10%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is presently 130.30%.

Insider Activity

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ES. Jefferies Financial Group reduced their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Barclays cut their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Scotiabank cut their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.40.

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.