Northcape Wealth Management LLC Has $1.76 Million Stock Holdings in Eversource Energy (NYSE:ES)

Northcape Wealth Management LLC raised its stake in Eversource Energy (NYSE:ES) by 0.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,625 shares of the utilities provider’s stock after purchasing an additional 272 shares during the period. Northcape Wealth Management LLC’s holdings in Eversource Energy were worth $1,759,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Exchange Traded Concepts LLC bought a new stake in shares of Eversource Energy during the 3rd quarter worth about $114,000. Creative Planning lifted its position in Eversource Energy by 6.7% during the third quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock worth $5,863,000 after acquiring an additional 5,417 shares during the last quarter. Net Worth Advisory Group bought a new stake in shares of Eversource Energy during the third quarter worth approximately $221,000. Blue Trust Inc. grew its position in shares of Eversource Energy by 135.2% in the third quarter. Blue Trust Inc. now owns 2,347 shares of the utilities provider’s stock valued at $160,000 after purchasing an additional 1,349 shares during the last quarter. Finally, Resonant Capital Advisors LLC bought a new position in shares of Eversource Energy during the third quarter worth approximately $207,000. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $61.36 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The company has a market cap of $22.48 billion, a PE ratio of 26.56, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. The company has a 50 day moving average of $57.99 and a 200-day moving average of $62.55. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS 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 11.04%. As a group, equities research analysts forecast that Eversource Energy will post 4.76 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors 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 is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.91%. Eversource Energy’s dividend payout ratio (DPR) is 123.81%.

Analyst Upgrades and Downgrades

ES has been the subject of several recent research reports. Jefferies Financial Group reduced their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Barclays reduced their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Wells Fargo & Company cut their price objective 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 lowered their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $67.45.

Eversource Energy 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.