Victory Capital Management Inc. Has $28.79 Million Stake in Eversource Energy (NYSE:ES)

Victory Capital Management Inc. grew its stake in Eversource Energy (NYSE:ES - Free Report) by 3.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 466,489 shares of the utilities provider's stock after acquiring an additional 16,482 shares during the quarter. Victory Capital Management Inc. owned about 0.13% of Eversource Energy worth $28,792,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Hexagon Capital Partners LLC lifted its stake in shares of Eversource Energy by 84.0% in the 4th quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 272 shares during the last quarter. Cozad Asset Management Inc. acquired a new stake in shares of Eversource Energy during the fourth quarter valued at about $212,000. Duff & Phelps Investment Management Co. raised its stake in shares of Eversource Energy by 22.1% in the 4th quarter. Duff & Phelps Investment Management Co. now owns 916,825 shares of the utilities provider's stock valued at $56,586,000 after acquiring an additional 165,685 shares during the period. Kestra Private Wealth Services LLC lifted its holdings in shares of Eversource Energy by 44.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 25,589 shares of the utilities provider's stock worth $1,579,000 after acquiring an additional 7,864 shares during the last quarter. Finally, Anchor Capital Advisors LLC increased its holdings in Eversource Energy by 71.5% in the 4th quarter. Anchor Capital Advisors LLC now owns 805,171 shares of the utilities provider's stock valued at $49,695,000 after purchasing an additional 335,775 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ES. Citigroup lifted their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, February 15th. Mizuho raised shares of Eversource Energy from a "neutral" rating to a "buy" rating and upped their target price for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. BMO Capital Markets raised their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the company a "market perform" rating in a research report on Friday, May 3rd. Wells Fargo & Company lifted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 3rd. Finally, Argus reduced their price target on Eversource Energy from $85.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $66.23.

Eversource Energy Stock Down 0.2 %

ES stock traded down $0.13 during midday trading on Wednesday, reaching $61.04. 1,518,646 shares of the company were exchanged, compared to its average volume of 2,862,306. The stock's 50-day simple moving average is $59.25 and its 200 day simple moving average is $58.24. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $77.53. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The company has a market cap of $21.41 billion, a price-to-earnings ratio of -51.73, a price-to-earnings-growth ratio of 3.21 and a beta of 0.57.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the company posted $1.41 earnings per share. The business's quarterly revenue was down 12.2% compared to the same quarter last year. On average, equities analysts forecast that Eversource Energy will post 4.49 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date is Wednesday, May 15th. Eversource Energy's dividend payout ratio is currently -242.37%.

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.