Edgestream Partners L.P. Raises Stock Position in Eversource Energy (NYSE:ES)

Edgestream Partners L.P. grew its holdings in Eversource Energy (NYSE:ES) by 25.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 113,443 shares of the utilities provider’s stock after acquiring an additional 22,909 shares during the period. Edgestream Partners L.P.’s holdings in Eversource Energy were worth $6,515,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Kestra Investment Management LLC acquired a new position in Eversource Energy in the 4th quarter worth $29,000. Assetmark Inc. lifted its holdings in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares in the last quarter. Brooklyn Investment Group acquired a new position in Eversource Energy in the 3rd quarter worth $31,000. Ashton Thomas Securities LLC acquired a new position in Eversource Energy in the 3rd quarter worth $32,000. Finally, Venturi Wealth Management LLC lifted its holdings in Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after buying an additional 301 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES opened at $58.66 on Friday. The firm has a market cap of $21.51 billion, a price-to-earnings ratio of 25.39, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The company’s 50-day moving average price is $59.02 and its 200 day moving average price is $62.32. 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 (NYSE:ES) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share 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%. As a group, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 5.13%. Eversource Energy’s dividend payout ratio is 130.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group cut their price objective 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. Wells Fargo & Company cut their target price 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. Finally, Barclays cut 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 research note on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $67.45.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jay S. Buth sold 980 shares of the 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 completion of the transaction, the vice president now owns 24,374 shares of the company’s stock, valued at $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. 0.41% of the stock is owned by insiders.

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.