Keybank National Association OH Boosts Holdings in Eversource Energy (NYSE:ES)

Keybank National Association OH grew its holdings in Eversource Energy (NYSE:ES) by 2.6% in the 4th quarter, HoldingsChannel reports. The firm owned 9,090 shares of the utilities provider’s stock after purchasing an additional 233 shares during the quarter. Keybank National Association OH’s holdings in Eversource Energy were worth $522,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ES. Wellington Management Group LLP purchased a new position in shares of Eversource Energy in the third quarter valued at approximately $808,783,000. National Bank of Canada FI boosted its stake in shares of Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after purchasing an additional 612,421 shares during the period. Nordea Investment Management AB boosted its stake in shares of Eversource Energy by 41.7% in the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after purchasing an additional 510,582 shares during the period. State Street Corp boosted its stake in shares of Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after purchasing an additional 430,587 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in shares of Eversource Energy by 518.1% in the third quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock valued at $32,683,000 after purchasing an additional 402,574 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Activity

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now 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. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Up 3.8 %

ES stock opened at $60.97 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company’s 50 day moving average is $59.09 and its two-hundred day moving average is $62.23. The stock has a market cap of $22.36 billion, a P/E ratio of 26.39, a PEG ratio of 2.35 and a beta of 0.60.

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

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.94%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s payout ratio is presently 130.30%.

Analysts Set New Price Targets

ES has been the subject of several recent research reports. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Wells Fargo & Company lowered their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Barclays decreased their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Scotiabank decreased their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and an average target price of $67.45.

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.