Arizona State Retirement System Buys 2,883 Shares of Eversource Energy (NYSE:ES)

Arizona State Retirement System increased its holdings in shares of Eversource Energy (NYSE:ES) by 2.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 103,803 shares of the utilities provider’s stock after purchasing an additional 2,883 shares during the period. Arizona State Retirement System’s holdings in Eversource Energy were worth $5,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ES. Brooklyn Investment Group acquired a new position in Eversource Energy in the 3rd quarter worth about $31,000. Ashton Thomas Securities LLC acquired a new position in Eversource Energy in the 3rd quarter worth about $32,000. Kestra Investment Management LLC acquired a new position in Eversource Energy in the 4th quarter worth about $29,000. Assetmark Inc. increased its holdings in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 350 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ES. Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Jefferies Financial Group lowered their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Barclays decreased their price target 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, StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $67.45.

Eversource Energy Stock Performance

NYSE:ES opened at $60.97 on Friday. The company has a fifty day moving average of $59.09 and a 200-day moving average of $62.29. The firm has a market capitalization of $22.36 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01.

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

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 4.94%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is currently 130.30%.

Insider Activity

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

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.