Blueshift Asset Management LLC Raises Stock Position in Eversource Energy (NYSE:ES)

Blueshift Asset Management LLC raised its stake in Eversource Energy (NYSE:ES) by 108.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,788 shares of the utilities provider’s stock after buying an additional 5,093 shares during the period. Blueshift Asset Management LLC’s holdings in Eversource Energy were worth $562,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in Eversource Energy by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock valued at $2,306,000 after buying an additional 9,981 shares in the last quarter. Verity & Verity LLC purchased a new position in shares of Eversource Energy during the 4th quarter worth approximately $744,000. Nordea Investment Management AB increased its stake in shares of Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares in the last quarter. Landscape Capital Management L.L.C. increased its stake in shares of Eversource Energy by 46.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after purchasing an additional 10,093 shares in the last quarter. Finally, Everett Harris & Co. CA increased its stake in shares of Eversource Energy by 125.2% during the 4th quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after purchasing an additional 4,500 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 transaction of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Eversource Energy Stock Up 0.1 %

Shares of ES opened at $61.58 on Friday. The firm has a market cap of $22.61 billion, a PE ratio of 26.66, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The company’s fifty day moving average is $59.84 and its two-hundred day moving average is $61.93. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. 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 announced its quarterly earnings results 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 net margin of 6.82% and a return on equity of 10.99%. Analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Barclays dropped their price objective on shares of 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. Finally, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $67.45.

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.