Quantbot Technologies LP Acquires New Position in Eversource Energy (NYSE:ES)

Quantbot Technologies LP bought a new position in shares of Eversource Energy (NYSE:ES) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 109,112 shares of the utilities provider’s stock, valued at approximately $6,266,000.

A number of other large investors have also modified their holdings of the business. Victory Capital Management Inc. lifted its stake in shares of Eversource Energy by 3.4% in the third quarter. Victory Capital Management Inc. now owns 121,166 shares of the utilities provider’s stock valued at $8,245,000 after purchasing an additional 3,960 shares during the period. Empowered Funds LLC lifted its position in shares of Eversource Energy by 76.4% during the 3rd quarter. Empowered Funds LLC now owns 9,389 shares of the utilities provider’s stock valued at $639,000 after acquiring an additional 4,065 shares during the period. Natixis Advisors LLC grew its holdings in shares of Eversource Energy by 4.4% in the 3rd quarter. Natixis Advisors LLC now owns 133,174 shares of the utilities provider’s stock worth $9,062,000 after acquiring an additional 5,553 shares during the period. Pathstone Holdings LLC increased its stake in Eversource Energy by 0.7% in the 3rd quarter. Pathstone Holdings LLC now owns 45,798 shares of the utilities provider’s stock valued at $3,117,000 after purchasing an additional 331 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in Eversource Energy by 6.7% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,964 shares of the utilities provider’s stock worth $8,640,000 after purchasing an additional 8,011 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on 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 directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Eversource Energy Stock Down 1.0 %

ES stock opened at $60.98 on Friday. The company has a 50 day moving average price of $59.94 and a two-hundred day moving average price of $61.89. 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 stock has a market capitalization of $22.38 billion, a P/E ratio of 26.40, 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.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 4.94%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Scotiabank dropped their price target on 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. Barclays dropped their target price 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 downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Jefferies Financial Group cut their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $67.45.

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.