Castellan Group Buys Shares of 62,036 Eversource Energy (NYSE:ES)

Castellan Group purchased a new position in shares of Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 62,036 shares of the utilities provider’s stock, valued at approximately $3,563,000. Eversource Energy makes up 1.5% of Castellan Group’s holdings, making the stock its 26th largest holding.

A number of other large investors also recently modified their holdings of ES. State Street Corp increased its position in Eversource Energy by 1.7% in the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after acquiring an additional 430,587 shares during the period. Wellington Management Group LLP bought a new stake in shares of Eversource Energy in the third quarter worth $808,783,000. Geode Capital Management LLC increased its holdings in Eversource Energy by 3.1% in the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after purchasing an additional 268,588 shares during the period. FMR LLC increased its holdings in Eversource Energy by 2.7% in the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after purchasing an additional 185,381 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Eversource Energy by 4.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock worth $337,270,000 after purchasing an additional 216,630 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ES. Jefferies Financial Group reduced their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Scotiabank cut Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Finally, Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday. Two analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Price Performance

ES stock opened at $59.68 on Thursday. The stock’s 50 day simple moving average is $57.94 and its 200 day simple moving average is $62.70. 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 fifty-two week low of $53.76 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Equities research analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued 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 annualized dividend and a yield of 5.04%. Eversource Energy’s dividend payout ratio is presently -182.17%.

Eversource Energy 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.