CoreFirst Bank & Trust Takes Position in Eversource Energy (NYSE:ES)

CoreFirst Bank & Trust purchased a new position in shares of Eversource Energy (NYSE:ES) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 907 shares of the utilities provider’s stock, valued at approximately $52,000.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Investment Management LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $29,000. Assetmark Inc. increased its stake in Eversource Energy by 99.2% in 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 bought a new stake in shares of Eversource Energy during the third quarter worth $31,000. Venturi Wealth Management LLC lifted its position in shares of 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 last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Eversource Energy during the fourth quarter valued at $35,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Price Performance

ES opened at $59.00 on Wednesday. The firm has a market capitalization of $21.66 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The business’s 50-day moving average is $60.10 and its two-hundred day moving average is $61.69. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate 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 $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.10%. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Analyst Upgrades and Downgrades

ES has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Scotiabank lowered their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Barclays reduced their price objective on 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, Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus target price of $67.40.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on 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 directly owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

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.