4,221 Shares in Eversource Energy (NYSE:ES) Purchased by SVB Wealth LLC

SVB Wealth LLC acquired a new position in Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 4,221 shares of the utilities provider’s stock, valued at approximately $261,000.

Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC purchased a new stake in Eversource Energy in the 4th quarter worth about $26,000. UMB Bank n.a. raised its stake in shares of 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 purchasing an additional 364 shares in the last quarter. MV Capital Management Inc. raised its stake in shares of 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 purchasing an additional 206 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Eversource Energy during the 4th quarter worth about $43,000. Finally, Blue Trust Inc. raised its stake in shares of Eversource Energy by 172.7% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 480 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

ES opened at $60.30 on Tuesday. The firm has a market capitalization of $21.15 billion, a P/E ratio of -47.86, a price-to-earnings-growth ratio of 3.17 and a beta of 0.58. The stock’s 50 day moving average price is $58.69 and its two-hundred day moving average price is $57.87. 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 12-month low of $52.03 and a 12-month high of $79.92.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same period last year, the business earned $0.92 EPS. On average, equities analysts forecast that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a $0.715 dividend. The ex-dividend date was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a yield of 4.74%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred 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 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 accessible through this link. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the firm’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 completion of the sale, the insider now 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 own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. The Goldman Sachs Group assumed coverage on Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. Argus cut their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Barclays cut their price target on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research note on Monday, January 22nd. Finally, Wells Fargo & Company increased their price objective on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.85.

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.