Adage Capital Partners GP L.L.C. Raises Holdings in Eversource Energy (NYSE:ES)

Adage Capital Partners GP L.L.C. increased its position in Eversource Energy (NYSE:ES - Free Report) by 75.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 592,334 shares of the utilities provider's stock after purchasing an additional 255,500 shares during the period. Adage Capital Partners GP L.L.C. owned 0.16% of Eversource Energy worth $34,018,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in ES. Mizuho Bank Ltd. purchased a new position in shares of Eversource Energy during the fourth quarter worth approximately $26,000. Kestra Investment Management LLC purchased a new stake in shares of Eversource Energy in the fourth quarter valued at about $29,000. Assetmark Inc. boosted its stake in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after buying an additional 254 shares during the period. Venturi Wealth Management LLC grew 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 buying an additional 301 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in Eversource Energy in the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares in the company, 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 the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, 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. Corporate insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ES. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Scotiabank cut their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group lowered their price objective on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $65.78.

Eversource Energy Stock Performance

NYSE ES opened at $58.63 on Friday. The business has a 50 day moving average price of $59.93 and a 200 day moving average price of $60.34. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $21.52 billion, a P/E ratio of 25.38, a PEG ratio of 2.35 and a beta of 0.58. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data 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%. Sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.13%. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 4th. Eversource Energy's payout ratio is 130.30%.

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.

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