UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 561,055 Shares of Eversource Energy (NYSE:ES)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,517,269 shares of the utilities provider's stock after buying an additional 561,055 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 1.51% of Eversource Energy worth $316,857,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ES. Mizuho Bank Ltd. purchased a new stake in Eversource Energy in the 4th quarter worth approximately $26,000. Kestra Investment Management LLC bought a new position in shares of Eversource Energy in the fourth quarter worth approximately $29,000. Assetmark Inc. boosted its position in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after purchasing an additional 254 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after purchasing an additional 301 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of Eversource Energy during the 4th quarter valued at $35,000. Institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

ES stock opened at $64.01 on Thursday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The firm has a market capitalization of $23.52 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. The company has a fifty day simple moving average of $59.82 and a two-hundred day simple moving average of $59.83. 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 quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm earned $1.49 EPS. The firm's revenue for the quarter was up 23.6% compared to the same quarter last year. Analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is 129.74%.

Analysts Set New Price Targets

Several research analysts recently weighed in on ES shares. Jefferies Financial Group dropped their target price on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, Scotiabank reduced their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $65.78.

Insider Activity

In related news, VP Jay S. Buth sold 980 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. This trade represents a 3.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.41% of the company's stock.

Eversource Energy Company 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.

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