Waldron Private Wealth LLC Buys New Stake in Eversource Energy (NYSE:ES)

Waldron Private Wealth LLC purchased a new stake in shares of Eversource Energy (NYSE:ES) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,018 shares of the utilities provider’s stock, valued at approximately $247,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP grew its stake in Eversource Energy by 275.0% in 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 period. Resurgent Financial Advisors LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at about $27,000. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at about $26,000. ICA Group Wealth Management LLC purchased a new stake in shares of Eversource Energy during the fourth quarter worth about $53,000. Finally, UMB Bank n.a. raised its position 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 worth $37,000 after purchasing an additional 364 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the transaction, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred 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 approximately $609,388.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,250 shares of company stock valued at $352,014. Company insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on ES shares. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Barclays reduced their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. Wells Fargo & Company lifted their target price on shares of Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $60.00 to $72.00 in a research report on Monday, January 22nd. Finally, StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $66.08.

Eversource Energy Price Performance

ES opened at $57.20 on Wednesday. Eversource Energy has a one year low of $52.03 and a one 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 business’s 50 day moving average price is $58.31 and its 200 day moving average price is $57.77.

Eversource Energy (NYSE:ES) last announced 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). The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same period last year, the company earned $0.92 EPS. On average, research analysts forecast that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given a dividend of $0.715 per share. 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 dividend on an annualized basis and a dividend yield of 5.00%. Eversource Energy’s dividend payout ratio (DPR) is currently -226.98%.

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.