Pitcairn Co. Boosts Stock Holdings in Eversource Energy (NYSE:ES)

Pitcairn Co. boosted its position in Eversource Energy (NYSE:ES) by 65.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,760 shares of the utilities provider’s stock after buying an additional 2,279 shares during the quarter. Pitcairn Co.’s holdings in Eversource Energy were worth $331,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new stake in shares of Eversource Energy during the 4th quarter valued at approximately $29,000. Assetmark Inc. boosted its holdings in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 254 shares during the period. Venturi Wealth Management LLC grew its position in shares of Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. OFI Invest Asset Management bought a new stake in shares of Eversource Energy during the 4th quarter valued at $35,000. Finally, UMB Bank n.a. lifted its holdings in Eversource Energy by 38.4% during the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 197 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Activity at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy 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 transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ES shares. Barclays decreased their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Jefferies Financial Group decreased their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company cut their price target 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. Scotiabank reduced their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $67.44.

Eversource Energy Trading Down 5.6 %

NYSE ES opened at $58.48 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock’s 50-day simple moving average is $60.73 and its two-hundred day simple moving average is $61.31. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company has a market capitalization of $21.47 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share 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%. Research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were issued a dividend of $0.7525 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.15%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is currently 130.30%.

About Eversource Energy

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.