Hartford Investment Management Co. Acquires 335 Shares of Eversource Energy (NYSE:ES)

Hartford Investment Management Co. increased its position in Eversource Energy (NYSE:ES) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,516 shares of the utilities provider’s stock after buying an additional 335 shares during the period. Hartford Investment Management Co.’s holdings in Eversource Energy were worth $1,293,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group purchased a new stake in Eversource Energy during the third quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in Eversource Energy during the third quarter valued at approximately $32,000. Larson Financial Group LLC raised its position in Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares during the period. UMB Bank n.a. raised its position in Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares during the period. Finally, Asset Dedication LLC purchased a new stake in Eversource Energy during the fourth quarter valued at approximately $41,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

NYSE:ES opened at $61.57 on Friday. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The stock has a market capitalization of $22.56 billion, a PE ratio of -39.22, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. The stock’s 50-day moving average price is $57.91 and its 200-day moving average price is $62.68.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. As a group, equities analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.89%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s payout ratio is presently 130.30%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Barclays reduced their price target 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. Wells Fargo & Company dropped their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday. Scotiabank decreased their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Thursday. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $67.00.

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.