West Branch Capital LLC Purchases 220 Shares of Eversource Energy (NYSE:ES)

West Branch Capital LLC boosted its position in Eversource Energy (NYSE:ESFree Report) by 14.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,747 shares of the utilities provider’s stock after purchasing an additional 220 shares during the quarter. West Branch Capital LLC’s holdings in Eversource Energy were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. American National Bank bought a new position in Eversource Energy during the 3rd quarter worth $25,000. Quarry LP raised its position in shares of Eversource Energy by 275.0% during the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 231 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy in the fourth quarter worth approximately $26,000. Resurgent Financial Advisors LLC bought a new stake in Eversource Energy in the fourth quarter valued at approximately $27,000. Finally, UMB Bank n.a. increased 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 valued at $37,000 after purchasing an additional 364 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $59.77 on Friday. The company has a market cap of $20.96 billion, a PE ratio of -47.44, a price-to-earnings-growth ratio of 3.15 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. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $81.36. The business has a 50 day moving average price of $57.22 and a 200-day moving average price of $58.10.

Eversource Energy (NYSE:ESGet Free Report) last issued its quarterly earnings data 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). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business posted $0.92 earnings per share. Eversource Energy’s revenue was down 11.1% on a year-over-year basis. Equities analysts anticipate that Eversource Energy will post 4.55 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.79%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. Eversource Energy’s dividend payout ratio is presently -226.98%.

Insider Buying and Selling at Eversource Energy

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was 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 of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,250 shares of company stock worth $352,014. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Wells Fargo & Company raised their target price on Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday. Argus cut their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. Finally, Barclays cut their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $65.08.

Read Our Latest Report on ES

Eversource Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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