Modern Wealth Management LLC Boosts Holdings in Eversource Energy (NYSE:ES)

Modern Wealth Management LLC lifted its stake in shares of Eversource Energy (NYSE:ES) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,326 shares of the utilities provider’s stock after purchasing an additional 719 shares during the period. Modern Wealth Management LLC’s holdings in Eversource Energy were worth $625,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. lifted its holdings in Eversource Energy by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 166 shares in the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Eversource Energy by 10.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after buying an additional 176 shares in the last quarter. UMB Bank n.a. boosted its position in Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 197 shares during the last quarter. Summit Trail Advisors LLC grew its stake in Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after acquiring an additional 216 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in Eversource Energy by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock valued at $837,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.5 %

NYSE ES opened at $59.89 on Thursday. 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 firm has a market cap of $21.98 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.35 and a beta of 0.60. The firm has a 50 day simple moving average of $60.17 and a 200-day simple moving average of $61.68. Eversource Energy has a one year low of $54.75 and a one year high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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%. Equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal 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. This represents a $3.01 annualized dividend and a dividend yield of 5.03%. The ex-dividend date is Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Insider Activity at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction 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 transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ES has been the subject of several recent research reports. Barclays cut their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Scotiabank dropped their price objective 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. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 21st. Finally, Wells Fargo & Company cut their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.40.

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.