Eversource Energy (NYSE:ES) Position Raised by Vestcor Inc

Vestcor Inc raised its stake in Eversource Energy (NYSE:ES) by 14.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,714 shares of the utilities provider’s stock after buying an additional 1,466 shares during the quarter. Vestcor Inc’s holdings in Eversource Energy were worth $673,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its holdings in shares of Eversource Energy by 3.4% during the third quarter. Victory Capital Management Inc. now owns 121,166 shares of the utilities provider’s stock valued at $8,245,000 after purchasing an additional 3,960 shares during the period. ING Groep NV acquired a new position in shares of Eversource Energy during the third quarter valued at $3,253,000. CIBC Asset Management Inc increased its holdings in shares of Eversource Energy by 9.4% during the third quarter. CIBC Asset Management Inc now owns 52,054 shares of the utilities provider’s stock valued at $3,542,000 after purchasing an additional 4,490 shares during the period. Empirical Finance LLC increased its holdings in shares of Eversource Energy by 2.3% during the third quarter. Empirical Finance LLC now owns 12,039 shares of the utilities provider’s stock valued at $819,000 after purchasing an additional 267 shares during the period. Finally, Empowered Funds LLC increased its holdings in shares of Eversource Energy by 76.4% during the third quarter. Empowered Funds LLC now owns 9,389 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 4,065 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on ES shares. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday. Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group lowered 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. Scotiabank lowered their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.45.

Eversource Energy Trading Up 2.3 %

NYSE:ES opened at $61.50 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01. The firm has a market capitalization of $22.57 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The stock has a fifty day simple moving average of $59.42 and a 200 day simple moving average of $62.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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%. Sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.89%. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Insiders Place Their Bets

In other news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction 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. The trade was a 12.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Company 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.