Baillie Gifford & Co. Grows Holdings in Eversource Energy (NYSE:ES)

Baillie Gifford & Co. increased its holdings in Eversource Energy (NYSE:ES - Free Report) by 135.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 667,979 shares of the utilities provider's stock after purchasing an additional 383,743 shares during the period. Baillie Gifford & Co. owned approximately 0.19% of Eversource Energy worth $41,228,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ES. Moneta Group Investment Advisors LLC raised its position in Eversource Energy by 101,201.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider's stock worth $1,057,818,000 after purchasing an additional 12,604,649 shares in the last quarter. Norges Bank bought a new stake in Eversource Energy during the fourth quarter worth about $274,262,000. Balyasny Asset Management L.P. grew its stake in Eversource Energy by 4,397.4% during the first quarter. Balyasny Asset Management L.P. now owns 1,072,762 shares of the utilities provider's stock worth $83,954,000 after buying an additional 1,048,909 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Eversource Energy by 64.0% during the second quarter. Goldman Sachs Group Inc. now owns 2,285,636 shares of the utilities provider's stock worth $193,067,000 after buying an additional 891,641 shares during the last quarter. Finally, Morgan Stanley grew its stake in Eversource Energy by 19.3% during the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider's stock worth $259,595,000 after buying an additional 723,318 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. UBS Group raised shares of 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. Guggenheim raised shares of Eversource Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $60.00 to $72.00 in a research note on Monday, January 22nd. Barclays decreased their price target on shares of Eversource Energy from $66.00 to $61.00 and set an "equal weight" rating on the stock in a research note on Monday, January 22nd. Citigroup increased their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Finally, Mizuho raised shares of Eversource Energy from a "neutral" rating to a "buy" rating and increased their price target for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Eversource Energy presently has a consensus rating of "Hold" and an average price target of $66.08.

Eversource Energy Trading Down 1.5 %

ES stock traded down $0.89 during midday trading on Wednesday, reaching $59.07. The company's stock had a trading volume of 2,344,794 shares, compared to its average volume of 3,084,967. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $80.49. The stock has a market cap of $20.72 billion, a PE ratio of -46.88, a price-to-earnings-growth ratio of 3.16 and a beta of 0.58. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. The business's 50-day simple moving average is $58.01 and its 200-day simple moving average is $57.80.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The company's revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the business posted $0.92 earnings per share. As a group, sell-side analysts expect that Eversource Energy will post 4.52 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.84%. This is a positive change from Eversource Energy's previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. Eversource Energy's dividend payout ratio (DPR) is presently -226.98%.

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.