Janney Montgomery Scott LLC boosted its stake in shares of Eversource Energy (NYSE:ES – Free Report) by 6.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 96,875 shares of the utilities provider’s stock after purchasing an additional 6,062 shares during the period. Janney Montgomery Scott LLC’s holdings in Eversource Energy were worth $5,634,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of ES. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Eversource Energy during the first quarter worth approximately $1,257,000. Dimensional Fund Advisors LP raised its stake in shares of Eversource Energy by 16.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock valued at $99,716,000 after acquiring an additional 158,844 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Eversource Energy by 8.5% in the 1st quarter. Vontobel Holding Ltd. now owns 7,816 shares of the utilities provider’s stock valued at $693,000 after acquiring an additional 613 shares during the period. Sei Investments Co. raised its stake in shares of Eversource Energy by 1.5% in the 1st quarter. Sei Investments Co. now owns 153,081 shares of the utilities provider’s stock valued at $13,510,000 after acquiring an additional 2,219 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Eversource Energy by 76.9% in the 1st quarter. Allianz Asset Management GmbH now owns 133,385 shares of the utilities provider’s stock valued at $11,763,000 after acquiring an additional 57,995 shares during the period. Hedge funds and other institutional investors own 80.83% of the company’s stock.
Insiders Place Their Bets
In other Eversource Energy news, insider Faasen William C. Van sold 2,714 shares of the firm’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $54.50, for a total transaction of $147,913.00. Following the completion of the transaction, the insider now directly owns 19,619 shares of the company’s stock, valued at approximately $1,069,235.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by company insiders.
Eversource Energy Price Performance
Eversource Energy Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th will be issued a dividend of $0.715 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is currently 80.84%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on ES shares. Wells Fargo & Company raised their target price on shares of Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Evercore ISI downgraded shares of Eversource Energy from an “outperform” rating to an “in-line” rating and cut their target price for the company from $84.00 to $65.00 in a research note on Tuesday, November 7th. UBS Group raised their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Tuesday, November 7th. Barclays cut their target price on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. Finally, Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $60.00 to $72.00 in a report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $65.33.
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.
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