Magellan Asset Management Ltd Has $371.83 Million Holdings in Eversource Energy (NYSE:ES)

Magellan Asset Management Ltd grew its holdings in Eversource Energy (NYSE:ES) by 15.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,474,477 shares of the utilities provider’s stock after buying an additional 890,514 shares during the quarter. Eversource Energy makes up 4.1% of Magellan Asset Management Ltd’s portfolio, making the stock its 4th largest position. Magellan Asset Management Ltd owned 1.77% of Eversource Energy worth $371,829,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Eversource Energy by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after acquiring an additional 9,981 shares during the last quarter. Verity & Verity LLC acquired a new position in Eversource Energy during the 4th quarter worth $744,000. Nordea Investment Management AB boosted its position in Eversource Energy by 41.7% in the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after buying an additional 510,582 shares during the last quarter. Everett Harris & Co. CA increased its stake in shares of Eversource Energy by 125.2% in the 4th quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock valued at $465,000 after buying an additional 4,500 shares during the period. Finally, Soltis Investment Advisors LLC bought a new stake in shares of Eversource Energy during the third quarter worth $3,616,000. 79.99% of the stock is owned by institutional investors.

Eversource Energy Trading Up 1.0 %

NYSE ES opened at $62.68 on Thursday. 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 current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $23.01 billion, a P/E ratio of 27.13, a P/E/G ratio of 2.35 and a beta of 0.58. The stock’s 50-day moving average is $60.58 and its 200-day moving average is $61.46.

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

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th were paid a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 4.80%. Eversource Energy’s dividend payout ratio (DPR) is currently 130.30%.

Analyst Upgrades and Downgrades

ES has been the topic of several recent research reports. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. Jefferies Financial Group reduced their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Scotiabank reduced their price objective 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. Finally, Barclays lowered their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $67.40.

Insider Transactions at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the 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 transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on Wednesday, February 19th. The shares were 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 owns 22,671 shares in the company, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

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.