Eversource Energy (NYSE:ES) Stock Position Raised by HB Wealth Management LLC

HB Wealth Management LLC raised its position in shares of Eversource Energy (NYSE:ES) by 38.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,027 shares of the utilities provider’s stock after purchasing an additional 1,682 shares during the period. HB Wealth Management LLC’s holdings in Eversource Energy were worth $372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. American National Bank acquired a new position in shares of Eversource Energy during the 3rd quarter valued at about $25,000. Quarry LP increased its holdings in shares of Eversource Energy by 275.0% during the 1st quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy during the 4th quarter valued at about $26,000. Resurgent Financial Advisors LLC acquired a new position in shares of Eversource Energy during the 4th quarter valued at about $27,000. Finally, UMB Bank n.a. increased its holdings in shares of Eversource Energy by 130.9% during the 3rd quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 364 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ES. Citigroup increased their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. JPMorgan Chase & Co. raised their target price on Eversource Energy from $68.00 to $69.00 and gave the company a “neutral” rating in a report on Wednesday, November 29th. Wells Fargo & Company raised their target price on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. UBS Group reaffirmed a “neutral” rating and issued a $62.00 target price on shares of Eversource Energy in a report on Tuesday. Finally, Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $54.00 to $62.00 in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, Eversource Energy has a consensus rating of “Hold” and an average price target of $65.08.

Eversource Energy Stock Up 4.8 %

ES stock opened at $58.98 on Thursday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The stock has a market capitalization of $20.69 billion, a P/E ratio of -46.81, a P/E/G ratio of 3.04 and a beta of 0.58. The business has a 50-day moving average of $56.89 and a 200-day moving average of $58.10. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $81.36.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. During the same period last year, the company posted $0.92 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Eversource Energy will post 4.55 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 Friday, March 29th. Stockholders of record on Tuesday, March 5th will be given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.85%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date is Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently -226.98%.

Insider Activity

In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at $609,388.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Insiders sold a total of 6,250 shares of company stock valued at $352,014 over the last three months. Insiders own 0.38% of the company’s stock.

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.