abrdn plc Purchases 85,756 Shares of Eversource Energy (NYSE:ES)

abrdn plc increased its position in Eversource Energy (NYSE:ES) by 21.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 488,683 shares of the utilities provider’s stock after buying an additional 85,756 shares during the period. abrdn plc owned about 0.14% of Eversource Energy worth $30,162,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its holdings in shares of Eversource Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock worth $404,856,000 after purchasing an additional 134,492 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Eversource Energy by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock worth $385,457,000 after acquiring an additional 163,053 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Eversource Energy by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock valued at $388,509,000 after acquiring an additional 475,341 shares during the last quarter. Morgan Stanley grew its holdings in shares of Eversource Energy by 19.3% in the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after purchasing an additional 723,318 shares in the last quarter. Finally, Northern Trust Corp increased its position in Eversource Energy by 2.7% in the third quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock worth $246,409,000 after purchasing an additional 111,294 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. BMO Capital Markets lifted their price objective on shares of Eversource Energy from $63.00 to $64.00 and gave the stock a “market perform” rating in a research note on Thursday, February 15th. Citigroup lifted their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. Scotiabank reduced their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, Barclays decreased their price target on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.85.

Eversource Energy Stock Up 1.0 %

Shares of NYSE ES opened at $60.30 on Tuesday. The company has a 50 day simple moving average of $58.69 and a two-hundred day simple moving average of $57.87. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The business had revenue of $2.69 billion for 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 company’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. As a group, research analysts expect that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.715 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.74%. Eversource Energy’s dividend payout ratio (DPR) is presently -226.98%.

Insider Activity

In related news, insider Linda Dorcena Forry sold 822 shares of the 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 sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 completion of the sale, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederica M. Williams sold 2,714 shares of the company’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 transaction, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The disclosure for this sale can be found here. Insiders own 0.29% 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.