Eversource Energy (NYSE:ES) Stake Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc increased its stake in shares of Eversource Energy (NYSE:ES) by 6.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,454 shares of the utilities provider’s stock after buying an additional 3,400 shares during the quarter. CIBC Asset Management Inc’s holdings in Eversource Energy were worth $3,185,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Creative Planning boosted its position in Eversource Energy by 6.7% during the 3rd quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock worth $5,863,000 after acquiring an additional 5,417 shares during the period. Blue Trust Inc. boosted its position in Eversource Energy by 135.2% during the 3rd quarter. Blue Trust Inc. now owns 2,347 shares of the utilities provider’s stock worth $160,000 after acquiring an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Eversource Energy by 0.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 110,739 shares of the utilities provider’s stock worth $7,536,000 after acquiring an additional 512 shares during the period. Signaturefd LLC boosted its position in Eversource Energy by 1.8% during the 3rd quarter. Signaturefd LLC now owns 11,930 shares of the utilities provider’s stock worth $812,000 after acquiring an additional 206 shares during the period. Finally, Eastern Bank boosted its position in Eversource Energy by 137.6% during the 3rd quarter. Eastern Bank now owns 13,266 shares of the utilities provider’s stock worth $903,000 after acquiring an additional 7,682 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 3,092 shares of the 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 directly owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.41% of the company’s stock.

Eversource Energy Trading Up 1.1 %

NYSE:ES opened at $63.39 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01. The firm has a market capitalization of $23.25 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. The stock has a fifty day simple moving average of $58.12 and a 200 day simple moving average of $62.55.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 11.04% and a net margin of 6.82%. Sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.75%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is currently 130.30%.

Analyst Ratings Changes

A number of research analysts have issued reports on ES shares. Scotiabank reduced their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday. Barclays decreased their target price on 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. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $67.45.

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.