Eversource Energy (NYSE:ES) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC raised its stake in Eversource Energy (NYSE:ES) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 182,844 shares of the utilities provider’s stock after acquiring an additional 61,732 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.05% of Eversource Energy worth $11,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Morgan Stanley raised its stake in Eversource Energy by 19.3% in the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after purchasing an additional 723,318 shares during the last quarter. American Century Companies Inc. raised its position in shares of Eversource Energy by 23.7% in the third quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock valued at $213,005,000 after buying an additional 702,360 shares during the last quarter. Qube Research & Technologies Ltd raised its position in shares of Eversource Energy by 1,551.5% in the third quarter. Qube Research & Technologies Ltd now owns 708,437 shares of the utilities provider’s stock valued at $41,196,000 after buying an additional 665,540 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Eversource Energy by 11.6% during the third quarter. Nordea Investment Management AB now owns 5,824,459 shares of the utilities provider’s stock valued at $339,974,000 after buying an additional 605,702 shares during the period. Finally, FMR LLC boosted its position in Eversource Energy by 18.5% during the third quarter. FMR LLC now owns 3,590,971 shares of the utilities provider’s stock worth $208,815,000 after acquiring an additional 559,448 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Argus cut their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. StockNews.com upgraded Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Scotiabank lowered their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Barclays cut their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. Finally, BMO Capital Markets boosted their target price on shares of Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $66.23.

Eversource Energy Stock Performance

NYSE:ES opened at $60.01 on Friday. The firm’s fifty day simple moving average is $59.17 and its 200 day simple moving average is $58.10. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $77.97. The firm has a market capitalization of $21.05 billion, a price-to-earnings ratio of -50.86, a PEG ratio of 3.21 and a beta of 0.57.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The firm’s quarterly revenue was down 12.2% on a year-over-year basis. As a group, equities research analysts expect that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.77%. Eversource Energy’s payout ratio is currently -242.37%.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the transaction, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.