Mystic Asset Management Inc. Raises Stock Holdings in Eversource Energy (NYSE:ES)

Mystic Asset Management Inc. grew its position in Eversource Energy (NYSE:ES) by 44.9% in the 4th quarter, Holdings Channel.com reports. The fund owned 13,439 shares of the utilities provider’s stock after acquiring an additional 4,164 shares during the quarter. Mystic Asset Management Inc.’s holdings in Eversource Energy were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

ES has been the subject of several research reports. Barclays reduced their price objective 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 reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Wells Fargo & Company lowered 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. Jefferies Financial Group dropped their target price 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. Finally, Scotiabank reduced their price target 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. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $67.45.

Eversource Energy Price Performance

Eversource Energy stock opened at $61.55 on Tuesday. The stock has a market capitalization of $22.59 billion, a P/E ratio of 26.64, a P/E/G ratio of 2.35 and a beta of 0.60. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The firm’s 50-day moving average is $59.53 and its two-hundred day moving average is $61.98.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Equities analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently announced 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. 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 4.89%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

Insider Buying and Selling

In other news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction 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 completion of the transaction, the vice president now directly owns 24,374 shares in the company, 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 currently owned by company insiders.

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.