Allianz SE Makes New Investment in Eversource Energy (NYSE:ES)

Allianz SE purchased a new position in shares of Eversource Energy (NYSE:ES) in the fourth quarter, HoldingsChannel reports. The fund purchased 24,584 shares of the utilities provider’s stock, valued at approximately $1,409,000.

A number of other institutional investors have also modified their holdings of the company. Kestra Investment Management LLC purchased a new stake in Eversource Energy in the 4th quarter valued at about $29,000. Assetmark Inc. grew its holdings in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Brooklyn Investment Group acquired a new position in Eversource Energy during the third quarter worth approximately $31,000. Venturi Wealth Management LLC raised its stake in Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the period. Finally, OFI Invest Asset Management acquired a new position in shares of Eversource Energy in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $61.13 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a 50-day moving average of $60.28 and a two-hundred day moving average of $61.58. The stock has a market cap of $22.44 billion, a P/E ratio of 26.46, a PEG ratio of 2.35 and a beta of 0.60. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last issued 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 net margin of 6.82% and a return on equity of 10.99%. On average, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 4.92%. Eversource Energy’s payout ratio is currently 130.30%.

Wall Street Analyst Weigh In

ES has been the topic of several research analyst reports. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Scotiabank reduced their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company dropped their price objective 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 reduced their target price 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. Finally, Jefferies Financial Group lowered their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.40.

Insider Buying and Selling

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

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.