Eversource Energy (NYSE:ES) Shares Acquired by Focus Partners Wealth

Focus Partners Wealth grew its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 1,775.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 438,612 shares of the utilities provider's stock after purchasing an additional 415,222 shares during the quarter. Focus Partners Wealth owned approximately 0.12% of Eversource Energy worth $25,189,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Mizuho Bank Ltd. purchased a new stake in Eversource Energy in the 4th quarter valued at about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy in the fourth quarter worth approximately $29,000. Assetmark Inc. grew its holdings in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 254 shares during the period. Venturi Wealth Management LLC increased its position in Eversource Energy by 104.5% during 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 during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Eversource Energy during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

ES has been the subject of several research reports. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Tuesday, May 6th. 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 research note on Monday, April 28th. Wells Fargo & Company cut their price objective on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, Scotiabank cut their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, Eversource Energy currently has an average rating of "Hold" and a consensus price target of $65.78.

Eversource Energy Stock Up 1.6%

Shares of Eversource Energy stock traded up $0.97 during trading hours on Thursday, hitting $62.32. 2,942,738 shares of the company's stock traded hands, compared to its average volume of 2,416,093. 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 has a twelve month low of $52.28 and a twelve month high of $69.01. The stock has a 50 day simple moving average of $59.51 and a 200-day simple moving average of $59.89. The company has a market cap of $22.90 billion, a PE ratio of 26.98, a PEG ratio of 2.35 and a beta of 0.61.

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. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a $0.7525 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.83%. Eversource Energy's payout ratio is 129.74%.

Insider Transactions at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of the business's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. This represents a 12.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, the vice president now owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% 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.