Eversource Energy (NYSE:ES) Stake Boosted by abrdn plc

abrdn plc grew its holdings in shares of Eversource Energy (NYSE:ES) by 21.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 488,683 shares of the utilities provider’s stock after purchasing an additional 85,756 shares during the period. abrdn plc’s holdings in Eversource Energy were worth $30,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of ES. Charles Schwab Investment Management Inc. lifted its holdings in Eversource Energy by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock worth $404,856,000 after acquiring an additional 134,492 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Eversource Energy by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock worth $385,457,000 after purchasing an additional 163,053 shares during the last quarter. Nordea Investment Management AB boosted its position in Eversource Energy by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock valued at $388,509,000 after purchasing an additional 475,341 shares during the period. Morgan Stanley grew its stake in Eversource Energy by 19.3% during the 3rd 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. Finally, Northern Trust Corp lifted its stake in Eversource Energy by 2.7% in the third quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock valued at $246,409,000 after buying an additional 111,294 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred 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 sale, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction dated 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 owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays dropped 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 report on Monday, January 22nd. BMO Capital Markets lifted their price target on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Argus decreased their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Finally, StockNews.com raised Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average price target of $65.85.

Eversource Energy Stock Up 1.0 %

Shares of NYSE:ES opened at $60.30 on Tuesday. 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 50 day moving average price of $58.69 and a 200 day moving average price of $57.87. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $79.92.

Eversource Energy (NYSE:ES) last released 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). The company 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 company’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.92 EPS. As a group, equities analysts forecast that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

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

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.