Essential Planning LLC. Takes $1.53 Million Position in Eversource Energy (NYSE:ES)

Essential Planning LLC. acquired a new stake in shares of Eversource Energy (NYSE:ES - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 24,570 shares of the utilities provider's stock, valued at approximately $1,534,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC acquired a new position in Eversource Energy during the fourth quarter valued at $29,000. Assetmark Inc. grew its stake in Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 254 shares in the last quarter. Brooklyn Investment Group acquired a new position in shares of Eversource Energy in the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy in the third quarter worth approximately $32,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after purchasing an additional 301 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

ES stock traded up $1.39 during midday trading on Friday, hitting $61.50. 1,851,850 shares of the company traded hands, compared to its average volume of 2,183,706. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The stock has a market capitalization of $22.57 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The business has a 50 day simple moving average of $59.42 and a 200-day simple moving average of $62.05.

Remove Ads

Eversource Energy (NYSE:ES - Get Free Report) last announced its 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%. As a group, equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current 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 paid a dividend of $0.7525 per share. This is an increase 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 4.89%. Eversource Energy's dividend payout ratio is presently 130.30%.

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 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 of the company's stock, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jay S. Buth sold 980 shares of the 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 completion of the sale, the vice president now owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ES shares. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Wells Fargo & Company cut their price objective on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Scotiabank lowered their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group cut 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. Finally, StockNews.com raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Thursday. Two investment 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. According to MarketBeat, Eversource Energy currently has an average rating of "Hold" and a consensus 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.