Eversource Energy (NYSE:ES) Shares Acquired by Korea Investment CORP

Korea Investment CORP boosted its stake in Eversource Energy (NYSE:ES) by 26.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 271,297 shares of the utilities provider’s stock after acquiring an additional 55,907 shares during the period. Korea Investment CORP owned 0.07% of Eversource Energy worth $15,581,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Eversource Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after purchasing an additional 1,387,072 shares during the period. State Street Corp grew its position in Eversource Energy by 1.7% in the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Wellington Management Group LLP acquired a new position in Eversource Energy in the 3rd quarter valued at $808,783,000. Charles Schwab Investment Management Inc. raised its position in Eversource Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock worth $570,500,000 after buying an additional 226,972 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Eversource Energy by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after acquiring an additional 268,588 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Eversource Energy news, 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 completion of the sale, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ES. Scotiabank cut 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 report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Barclays reduced their target price 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. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.40.

Eversource Energy Trading Up 1.4 %

Shares of Eversource Energy stock opened at $61.13 on Monday. The business has a 50 day moving average price of $60.28 and a 200 day moving average price of $61.53. The company has a market capitalization of $22.44 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01.

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

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase 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 4.92%. Eversource Energy’s payout ratio is 130.30%.

About Eversource Energy

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.