Old North State Wealth Management LLC Buys 724 Shares of Eversource Energy (NYSE:ES)

Old North State Wealth Management LLC grew its position in shares of Eversource Energy (NYSE:ES) by 16.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,052 shares of the utilities provider’s stock after acquiring an additional 724 shares during the quarter. Old North State Wealth Management LLC’s holdings in Eversource Energy were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Boston Trust Walden Corp grew its position in Eversource Energy by 3.0% during the fourth quarter. Boston Trust Walden Corp now owns 1,002,004 shares of the utilities provider’s stock valued at $57,545,000 after buying an additional 28,725 shares during the period. CENTRAL TRUST Co raised its holdings in Eversource Energy by 11.3% in the 4th quarter. CENTRAL TRUST Co now owns 3,918 shares of the utilities provider’s stock worth $225,000 after purchasing an additional 399 shares during the period. U.S. Capital Wealth Advisors LLC lifted its position in Eversource Energy by 1.4% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 146,572 shares of the utilities provider’s stock valued at $8,418,000 after purchasing an additional 2,037 shares in the last quarter. Spire Wealth Management grew its holdings in Eversource Energy by 31.5% during the fourth quarter. Spire Wealth Management now owns 4,029 shares of the utilities provider’s stock valued at $231,000 after purchasing an additional 965 shares during the period. Finally, Everett Harris & Co. CA increased its position in Eversource Energy by 125.2% in the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $66.00 to $56.00 in a research note on Thursday, December 12th. BMO Capital Markets lowered their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group cut 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Price Performance

Shares of ES stock opened at $58.08 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a 12-month low of $52.71 and a 12-month high of $69.01. The stock’s 50-day moving average price is $58.44 and its 200-day moving average price is $62.83.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter in the previous year, the company posted $0.97 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 5.18%. Eversource Energy’s dividend payout ratio is presently -182.17%.

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.