Los Angeles Capital Management & Equity Research Inc. Invests $254,000 in Eversource Energy (ES) Stock

Los Angeles Capital Management & Equity Research Inc. bought a new stake in Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,912 shares of the utilities provider’s stock, valued at approximately $254,000.

Other large investors have also recently modified their holdings of the company. Bremer Trust National Association acquired a new position in shares of Eversource Energy in the 4th quarter valued at approximately $26,000. Certified Advisory Corp grew its holdings in shares of Eversource Energy by 114.8% during the 4th quarter. Certified Advisory Corp now owns 421 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 225 shares during the last quarter. Destination Wealth Management bought a new stake in shares of Eversource Energy during the 4th quarter valued at approximately $29,000. Cascade Investment Advisors Inc. bought a new stake in shares of Eversource Energy during the 4th quarter valued at approximately $34,000. Finally, Oregon Public Employees Retirement Fund grew its holdings in shares of Eversource Energy by 6,323.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,217,214 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 2,182,698 shares during the last quarter. Institutional investors own 73.38% of the company’s stock.

ES opened at $71.73 on Friday. Eversource Energy has a fifty-two week low of $52.76 and a fifty-two week high of $71.96. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.50 and a current ratio of 0.56. The company has a market cap of $22.75 billion, a price-to-earnings ratio of 21.87, a price-to-earnings-growth ratio of 3.59 and a beta of 0.31.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, February 20th. The utilities provider reported $0.73 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.02). The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.71 billion. Eversource Energy had a return on equity of 9.18% and a net margin of 12.23%. The company’s revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. Equities research analysts forecast that Eversource Energy will post 3.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th will be given a $0.535 dividend. The ex-dividend date is Monday, March 4th. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.51. Eversource Energy’s payout ratio is 65.24%.

In other news, insider Faasen William C. Van sold 2,501 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $70.00, for a total value of $175,070.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sanford Cloud, Jr. sold 1,042 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $68.87, for a total transaction of $71,762.54. The disclosure for this sale can be found here. Insiders sold a total of 111,201 shares of company stock worth $7,727,360 in the last 90 days. Corporate insiders own 0.45% of the company’s stock.

ES has been the topic of several research reports. Barclays set a $66.00 price target on shares of Eversource Energy and gave the company a “hold” rating in a report on Saturday, November 17th. Guggenheim reaffirmed a “buy” rating and set a $72.00 price target on shares of Eversource Energy in a report on Monday, January 7th. Morgan Stanley lifted their price target on shares of Eversource Energy from $69.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, February 12th. Zacks Investment Research lowered shares of Eversource Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. Finally, Bank of America lowered shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 target price on the stock. in a report on Monday, February 25th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $69.18.

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About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

Further Reading: Rule of 72

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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