Lansforsakringar Fondforvaltning AB publ Invests $7.02 Million in Eversource Energy (NYSE:ES)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 122,296 shares of the utilities provider's stock, valued at approximately $7,023,000.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after purchasing an additional 1,387,072 shares during the period. Wellington Management Group LLP boosted its holdings in Eversource Energy by 38.6% in the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after acquiring an additional 4,585,232 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Eversource Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider's stock worth $570,500,000 after acquiring an additional 226,972 shares during the period. Geode Capital Management LLC boosted its holdings in Eversource Energy by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock worth $547,550,000 after acquiring an additional 517,042 shares during the period. Finally, FMR LLC boosted its holdings in Eversource Energy by 4.8% in the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock worth $422,259,000 after acquiring an additional 333,529 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Guggenheim restated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Scotiabank decreased their price target on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, BMO Capital Markets upped their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $65.78.

Eversource Energy Stock Up 1.2%

Shares of ES traded up $0.79 during trading on Friday, reaching $64.88. The company's stock had a trading volume of 5,660,354 shares, compared to its average volume of 2,446,049. The company has a fifty day moving average of $60.21 and a two-hundred day moving average of $59.95. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The company has a market cap of $23.84 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the prior year, the company posted $1.49 EPS. Eversource Energy's quarterly revenue was up 23.6% on a year-over-year basis. On average, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy's dividend payout ratio is currently 129.74%.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the transaction, the executive vice president now directly owns 10,988 shares in the company, valued at $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.41% of the company's stock.

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.