Mystic Asset Management Inc. Boosts Holdings in Eversource Energy (NYSE:ES)

Mystic Asset Management Inc. increased its position in shares of Eversource Energy (NYSE:ES) by 44.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,439 shares of the utilities provider’s stock after buying an additional 4,164 shares during the quarter. Mystic Asset Management Inc.’s holdings in Eversource Energy were worth $772,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group cut their target price 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. Barclays lowered their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday, March 13th. Finally, Scotiabank lowered their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.45.

Insider Buying and Selling at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value 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 represents a 12.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following 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. 0.41% of the stock is owned by insiders.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $61.55 on Tuesday. The business has a 50-day simple moving average of $59.53 and a 200-day simple moving average of $61.98. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a one year low of $54.75 and a one year high of $69.01. The company has a market cap of $22.59 billion, a PE ratio of 26.64, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results 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%. On average, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a 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 is 130.30%.

About Eversource Energy

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.