Quantbot Technologies LP Invests $6.27 Million in Eversource Energy (NYSE:ES)

Quantbot Technologies LP bought a new stake in shares of Eversource Energy (NYSE:ES) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 109,112 shares of the utilities provider’s stock, valued at approximately $6,266,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp grew its position in Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after acquiring an additional 430,587 shares in the last quarter. Wellington Management Group LLP acquired a new stake in Eversource Energy during the 3rd quarter valued at $808,783,000. Charles Schwab Investment Management Inc. increased its stake in Eversource Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock worth $570,500,000 after buying an additional 226,972 shares during the period. Geode Capital Management LLC boosted its position in Eversource Energy by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after buying an additional 268,588 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after acquiring an additional 185,381 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analysts Forecast Growth

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

Eversource Energy Price Performance

Shares of NYSE:ES opened at $60.98 on Friday. The company has a market cap of $22.38 billion, a PE ratio of 26.40, a P/E/G ratio of 2.35 and a beta of 0.60. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The firm has a 50-day simple moving average of $59.94 and a 200 day simple moving average of $61.89. 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 (NYSE:ES) last posted its earnings results 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 return on equity of 10.99% and a net margin of 6.82%. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.94%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

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.