Eversource Energy (NYSE:ES) Stock Position Raised by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of Eversource Energy (NYSE:ES) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,385 shares of the utilities provider’s stock after acquiring an additional 1,138 shares during the quarter. Truist Financial Corp’s holdings in Eversource Energy were worth $1,228,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ES. CIBC Asset Management Inc boosted its position in shares of Eversource Energy by 6.5% in the fourth quarter. CIBC Asset Management Inc now owns 55,454 shares of the utilities provider’s stock worth $3,185,000 after buying an additional 3,400 shares during the period. Principal Financial Group Inc. boosted its position in shares of Eversource Energy by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 418,205 shares of the utilities provider’s stock worth $24,018,000 after buying an additional 4,331 shares during the period. Allworth Financial LP boosted its position in shares of Eversource Energy by 19.6% in the fourth quarter. Allworth Financial LP now owns 9,285 shares of the utilities provider’s stock worth $518,000 after buying an additional 1,522 shares during the period. Principal Securities Inc. boosted its position in shares of Eversource Energy by 24.5% in the fourth quarter. Principal Securities Inc. now owns 2,093 shares of the utilities provider’s stock worth $120,000 after buying an additional 412 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Eversource Energy by 14.0% in the fourth quarter. Blue Trust Inc. now owns 2,676 shares of the utilities provider’s stock worth $154,000 after buying an additional 329 shares during the period. 79.99% of the stock is owned by institutional investors.

Insider Transactions at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ES. Wells Fargo & Company cut their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Scotiabank cut their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Barclays cut their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average target price of $67.45.

Eversource Energy Price Performance

NYSE ES opened at $63.01 on Friday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The stock’s 50-day moving average is $58.80 and its two-hundred day moving average is $62.47. The firm has a market cap of $23.11 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. On average, analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.78%. Eversource Energy’s payout ratio is presently 130.30%.

Eversource Energy Company 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.