Envestnet Portfolio Solutions Inc. Purchases New Holdings in Eversource Energy (NYSE:ES)

Envestnet Portfolio Solutions Inc. acquired a new position in shares of Eversource Energy (NYSE:ES) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 3,828 shares of the utilities provider’s stock, valued at approximately $220,000.

Several other institutional investors have also made changes to their positions in ES. Larson Financial Group LLC grew its stake in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Eversource Energy by 1.9% during the 3rd quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock valued at $837,000 after buying an additional 232 shares during the last quarter. Private Trust Co. NA grew its stake in shares of Eversource Energy by 37.6% in the 3rd quarter. Private Trust Co. NA now owns 3,073 shares of the utilities provider’s stock valued at $209,000 after buying an additional 840 shares in the last quarter. Bank of Montreal Can increased its holdings in Eversource Energy by 5.2% in the third quarter. Bank of Montreal Can now owns 625,162 shares of the utilities provider’s stock worth $42,211,000 after buying an additional 30,903 shares during the last quarter. Finally, FMR LLC raised its position in Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after acquiring an additional 185,381 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Trading Up 1.4 %

Shares of ES stock opened at $61.13 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a fifty day moving average of $60.28 and a 200-day moving average of $61.62. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The stock has a market cap of $22.44 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating 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, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. 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 yield of 4.92%. Eversource Energy’s dividend payout ratio is 130.30%.

Analysts Set New Price Targets

Several research analysts have recently commented on ES shares. Barclays dropped their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Scotiabank cut their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.40.

Insider Activity at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were 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 represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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.