KLP Kapitalforvaltning AS Invests $20.42 Million in Eversource Energy (NYSE:ES)

KLP Kapitalforvaltning AS purchased a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 355,493 shares of the utilities provider's stock, valued at approximately $20,416,000. KLP Kapitalforvaltning AS owned 0.10% of Eversource Energy as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new stake in shares of Eversource Energy during the third quarter worth $808,783,000. Amundi raised its stake in shares of Eversource Energy by 32.2% during the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock valued at $367,691,000 after purchasing an additional 1,579,818 shares during the period. National Bank of Canada FI lifted its holdings in Eversource Energy by 446.0% during the 3rd quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider's stock worth $51,019,000 after purchasing an additional 612,421 shares in the last quarter. Nordea Investment Management AB boosted its stake in Eversource Energy by 41.7% in the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider's stock worth $99,554,000 after purchasing an additional 510,582 shares during the period. Finally, State Street Corp grew its holdings in Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider's stock valued at $1,737,990,000 after buying an additional 430,587 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

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Eversource Energy Price Performance

Shares of Eversource Energy stock traded up $0.37 during trading on Thursday, hitting $60.31. 1,487,320 shares of the stock traded hands, compared to its average volume of 2,169,001. The stock has a market cap of $22.14 billion, a price-to-earnings ratio of 26.11, a PEG 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. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The firm's fifty day moving average is $60.17 and its 200-day moving average is $61.68.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results 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 net margin of 6.82% and a return on equity of 10.99%. Research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.99%. Eversource Energy's payout ratio is currently 130.30%.

Analysts Set New Price Targets

A number of research firms have recently commented on ES. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group cut their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a report on Tuesday, January 28th. Scotiabank decreased their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Barclays lowered their price objective on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company reduced their target price on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.40.

Insider Buying and Selling at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on 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 transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

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.