Graypoint LLC Makes New $210,000 Investment in Eversource Energy (NYSE:ES)

Graypoint LLC acquired a new position in shares of Eversource Energy (NYSE:ES) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,406 shares of the utilities provider’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC boosted its stake in shares of Eversource Energy by 101,201.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock valued at $1,057,818,000 after purchasing an additional 12,604,649 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Eversource Energy by 1.7% in the 2nd quarter. Wells Fargo & Company MN now owns 7,863,718 shares of the utilities provider’s stock valued at $557,695,000 after acquiring an additional 128,215 shares during the period. Geode Capital Management LLC raised its position in shares of Eversource Energy by 1.7% in the 1st quarter. Geode Capital Management LLC now owns 7,548,700 shares of the utilities provider’s stock valued at $589,477,000 after acquiring an additional 124,871 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Eversource Energy by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock valued at $404,856,000 after acquiring an additional 134,492 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Eversource Energy by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock valued at $385,457,000 after acquiring an additional 163,053 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the transaction, 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 document filed with the SEC, which is available at the SEC website. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction 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 sale, the insider now directly owns 21,621 shares of the company’s stock, 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 ninety days. 0.29% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

NYSE:ES opened at $58.24 on Tuesday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $79.92. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The firm has a fifty day simple moving average of $58.24 and a 200 day simple moving average of $57.77. The stock has a market capitalization of $20.43 billion, a PE ratio of -46.22, a P/E/G ratio of 3.12 and a beta of 0.58.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share 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 firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the business posted $0.92 earnings per share. Eversource Energy’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, research analysts expect that Eversource Energy will post 4.52 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were paid a $0.715 dividend. The ex-dividend date was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a dividend yield of 4.91%. Eversource Energy’s dividend payout ratio (DPR) is currently -226.98%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price target on the stock. Barclays dropped 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 report on Monday, January 22nd. Argus dropped their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $54.00 to $62.00 in a report on Thursday, February 15th. Finally, UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.08.

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.