Corient Private Wealth LLC grew its stake in shares of Eversource Energy (NYSE:ES – Free Report) by 26.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 77,101 shares of the utilities provider’s stock after purchasing an additional 16,021 shares during the period. Corient Private Wealth LLC’s holdings in Eversource Energy were worth $5,192,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Lodestone Wealth Management LLC bought a new position in Eversource Energy during the fourth quarter valued at about $25,000. Activest Wealth Management lifted its position in Eversource Energy by 2,337.5% in the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 374 shares during the period. TFC Financial Management Inc. lifted its position in Eversource Energy by 2,857.1% in the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 400 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in Eversource Energy during the fourth quarter worth $28,000. Finally, Key Capital Management INC acquired a new stake in Eversource Energy during the fourth quarter worth $29,000. Institutional investors own 79.99% of the company’s stock.
Eversource Energy Stock Performance
Shares of Eversource Energy stock opened at $73.33 on Friday. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59. The firm has a market cap of $27.58 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 4.77 and a beta of 0.71. The stock’s 50-day moving average is $69.03 and its 200-day moving average is $69.59. Eversource Energy has a one year low of $61.53 and a one year high of $76.41.
Eversource Energy Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, May 18th. Eversource Energy’s dividend payout ratio (DPR) is currently 67.31%.
Insider Activity
In other news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the sale, the vice president owned 56,179 shares of the company’s stock, valued at $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on ES shares. UBS Group decreased their target price on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. BMO Capital Markets dropped their price target on shares of Eversource Energy from $75.00 to $73.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Wells Fargo & Company raised their price target on shares of Eversource Energy from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Scotiabank decreased their price objective on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Tuesday, April 21st. Finally, Bank of America reiterated a “buy” rating and issued a $72.00 price objective on shares of Eversource Energy in a research note on Wednesday, April 22nd. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus price target of $71.70.
Read Our Latest Stock Report on ES
About Eversource Energy
Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.
Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.
Further Reading
- Five stocks we like better than Eversource Energy
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES – Free Report).
Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.
