Eversource Energy (NYSE:ES) Holdings Boosted by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC raised its stake in Eversource Energy (NYSE:ES) by 19.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 6,506 shares of the utilities provider’s stock after buying an additional 1,062 shares during the quarter. Connecticut Wealth Management LLC’s holdings in Eversource Energy were worth $402,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in shares of Eversource Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock valued at $404,856,000 after purchasing an additional 134,492 shares during the period. Legal & General Group Plc lifted its holdings in Eversource Energy by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock valued at $385,457,000 after acquiring an additional 163,053 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Eversource Energy by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock worth $388,509,000 after purchasing an additional 475,341 shares during the last quarter. Morgan Stanley lifted its stake in Eversource Energy by 19.3% during the third 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. Finally, Northern Trust Corp raised its position in shares of Eversource Energy by 2.7% during the third quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock worth $246,409,000 after purchasing an additional 111,294 shares during the period. 79.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ES has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday. Scotiabank reduced their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Argus decreased their price target on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $60.00 to $72.00 in a research report on Monday, January 22nd. Finally, BMO Capital Markets increased their price objective on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $66.23.

Insider Activity

In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the company’s 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 directly owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Eversource Energy Stock Up 0.1 %

NYSE:ES traded up $0.06 during mid-day trading on Monday, hitting $60.07. 624,194 shares of the stock were exchanged, compared to its average volume of 2,872,541. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The firm’s 50-day simple moving average is $59.17 and its 200 day simple moving average is $58.14. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.92.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. Eversource Energy’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same period last year, the firm earned $1.41 earnings per share. Sell-side analysts forecast that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 4.76%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Eversource Energy Company 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.