Duff & Phelps Investment Management Co. Acquires 165,685 Shares of Eversource Energy (NYSE:ES)

Duff & Phelps Investment Management Co. grew its stake in Eversource Energy (NYSE:ES - Free Report) by 22.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 916,825 shares of the utilities provider's stock after purchasing an additional 165,685 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.26% of Eversource Energy worth $56,586,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Exchange Traded Concepts LLC bought a new position in Eversource Energy during the 4th quarter valued at about $26,000. Bfsg LLC acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $31,000. UMB Bank n.a. grew its position in Eversource Energy by 130.9% during the 3rd quarter. UMB Bank n.a. now owns 642 shares of the utilities provider's stock worth $37,000 after acquiring an additional 364 shares during the last quarter. MV Capital Management Inc. grew its position in Eversource Energy by 40.4% during the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider's stock worth $42,000 after acquiring an additional 206 shares during the last quarter. Finally, CVA Family Office LLC acquired a new stake in Eversource Energy during the 4th quarter valued at $43,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Trading Up 0.3 %

NYSE:ES traded up $0.16 during mid-day trading on Tuesday, hitting $60.62. The company had a trading volume of 3,515,949 shares, compared to its average volume of 2,899,401. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $78.64. The business's fifty day moving average is $58.97 and its two-hundred day moving average is $57.99. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing analysts' consensus estimates of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the business earned $0.92 earnings per share. The business's revenue was down 11.1% on a year-over-year basis. On average, equities research analysts forecast that Eversource Energy will post 4.51 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.72%. The ex-dividend date was Monday, March 4th. This is an increase from Eversource Energy's previous quarterly dividend of $0.68. Eversource Energy's dividend payout ratio (DPR) is presently -226.98%.

Analysts Set New Price Targets

ES has been the topic of several research analyst reports. Argus decreased their target price on Eversource Energy from $85.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, March 25th. UBS Group raised shares of Eversource Energy from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. The Goldman Sachs Group started coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They issued a "buy" rating and a $73.00 target price for the company. StockNews.com raised shares of Eversource Energy to a "sell" rating in a research note on Thursday, March 28th. Finally, Scotiabank dropped their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a "sector perform" rating for the company in a research report on Monday, April 22nd. One equities research 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $65.85.

Insiders Place Their Bets

In related news, insider Linda Dorcena Forry sold 822 shares of the business'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 sale, the insider now directly owns 10,485 shares of the company's stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Frederica M. Williams sold 2,714 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company's stock, valued at $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now directly owns 10,485 shares of the company's stock, valued at approximately $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.29% 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.