Corient Private Wealth LLC Raises Stake in Eversource Energy (NYSE:ES)

Corient Private Wealth LLC grew its stake in shares of Eversource Energy (NYSE:ES) by 4.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,332 shares of the utilities provider’s stock after purchasing an additional 3,496 shares during the quarter. Corient Private Wealth LLC’s holdings in Eversource Energy were worth $4,614,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock valued at $2,306,000 after purchasing an additional 9,981 shares during the period. Verity & Verity LLC bought a new stake in shares of Eversource Energy in the fourth quarter valued at about $744,000. Nordea Investment Management AB raised its holdings in shares of Eversource Energy by 41.7% in the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after acquiring an additional 510,582 shares in the last quarter. Landscape Capital Management L.L.C. raised its holdings in shares of Eversource Energy by 46.9% in the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after acquiring an additional 10,093 shares in the last quarter. Finally, Everett Harris & Co. CA raised its holdings in shares of Eversource Energy by 125.2% in the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock valued at $465,000 after acquiring an additional 4,500 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

Shares of ES stock opened at $60.98 on Friday. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s 50-day simple moving average is $59.94 and its 200-day simple moving average is $61.89.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

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

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday. Guggenheim restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group decreased their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Scotiabank reduced their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $67.45.

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.