Eversource Energy (NYSE:ES) Shares Acquired by New York Life Investment Management LLC

New York Life Investment Management LLC boosted its stake in Eversource Energy (NYSE:ES) by 6.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 55,664 shares of the utilities provider’s stock after purchasing an additional 3,167 shares during the quarter. New York Life Investment Management LLC’s holdings in Eversource Energy were worth $3,197,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of ES. Kestra Investment Management LLC purchased a new stake in Eversource Energy during the fourth quarter worth approximately $29,000. Brooklyn Investment Group purchased a new position in shares of Eversource Energy in the third quarter valued at $31,000. Ashton Thomas Securities LLC acquired a new stake in Eversource Energy in the third quarter valued at $32,000. Venturi Wealth Management LLC raised its holdings in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 301 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of ES opened at $63.01 on Friday. The firm has a 50-day moving average price of $58.80 and a 200 day moving average price of $62.45. The firm has a market capitalization of $23.11 billion, a PE ratio of 27.28, a P/E/G ratio of 2.35 and a beta of 0.62. 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 has a 52-week low of $54.75 and a 52-week high of $69.01.

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, 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%. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date 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 is currently 130.30%.

Insider Activity at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction dated 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 owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction 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 disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on ES. Wells Fargo & Company dropped 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 dropped their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Jefferies Financial Group dropped their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Scotiabank dropped their price objective 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. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $67.45.

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.