Congress Wealth Management LLC DE Raises Holdings in Eversource Energy (NYSE:ES)

Congress Wealth Management LLC DE increased its position in Eversource Energy (NYSE:ES) by 92.3% in the 4th quarter, Holdings Channel reports. The firm owned 5,682 shares of the utilities provider’s stock after buying an additional 2,727 shares during the period. Congress Wealth Management LLC DE’s holdings in Eversource Energy were worth $326,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in ES. Vanguard Group Inc. grew its position in Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after purchasing an additional 1,387,072 shares during the last quarter. State Street Corp grew its holdings in shares of Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Wellington Management Group LLP acquired a new position in Eversource Energy in the 3rd quarter valued at about $808,783,000. Charles Schwab Investment Management Inc. raised its stake in Eversource Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock valued at $570,500,000 after acquiring an additional 226,972 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Eversource Energy by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after acquiring an additional 268,588 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Up 1.4 %

ES opened at $61.13 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.35 and a beta of 0.60. Eversource Energy has a one year low of $54.75 and a one year high of $69.01. The business’s fifty day moving average is $60.28 and its two-hundred day moving average is $61.58.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Analysts anticipate that Eversource Energy will post 4.75 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. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.92%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ES. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday. Scotiabank cut their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Barclays cut 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. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $67.40.

Insider Buying and Selling

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the firm’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 transaction, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the company’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 completion of the sale, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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.