Summit Trail Advisors LLC Grows Stock Position in Eversource Energy (NYSE:ES)

Summit Trail Advisors LLC raised its position in Eversource Energy (NYSE:ES) by 4.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,893 shares of the utilities provider’s stock after acquiring an additional 216 shares during the quarter. Summit Trail Advisors LLC’s holdings in Eversource Energy were worth $281,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Brooklyn Investment Group acquired a new position in shares of Eversource Energy in the third quarter worth about $31,000. Ashton Thomas Securities LLC acquired a new position in shares of Eversource Energy in the 3rd quarter valued at approximately $32,000. UMB Bank n.a. raised its position in shares of Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after buying an additional 350 shares during the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Barclays cut their price target 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. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday. Finally, Scotiabank downgraded Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $67.42.

Eversource Energy Price Performance

Shares of ES opened at $59.68 on Thursday. Eversource Energy has a 12 month low of $53.76 and a 12 month high of $69.01. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The stock has a fifty day moving average price of $57.94 and a 200 day moving average price of $62.70. The company has a market cap of $21.87 billion, a P/E ratio of -38.01, a PEG ratio of 2.25 and a beta of 0.62.

Eversource Energy (NYSE:ES) last released 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 negative net margin of 4.73% and a positive return on equity of 10.90%. On average, research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently declared 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 represents a $3.01 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is -182.17%.

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.