Allstate Corp Buys New Shares in Eversource Energy (NYSE:ES)

Allstate Corp purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 10,927 shares of the utilities provider's stock, valued at approximately $628,000.

A number of other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP bought a new stake in shares of Eversource Energy in the 3rd quarter valued at $808,783,000. Norges Bank acquired a new stake in Eversource Energy in the fourth quarter worth $188,838,000. Amundi increased its stake in Eversource Energy by 32.2% in the fourth 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 in the last quarter. Vanguard Group Inc. raised its holdings in shares of Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after purchasing an additional 1,387,072 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of 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. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays decreased their target price on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. StockNews.com raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Saturday. Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. Scotiabank lowered their price objective 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. Finally, Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $67.40.

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Eversource Energy Trading Up 0.1 %

Shares of ES stock opened at $62.15 on Wednesday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market capitalization of $22.81 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.35 and a beta of 0.60. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The company has a 50-day simple moving average of $60.44 and a two-hundred day simple moving average of $61.45.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Research analysts anticipate 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. Investors of record on Tuesday, March 4th were issued a $0.7525 dividend. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Tuesday, March 4th. Eversource Energy's payout ratio is 130.30%.

Insider Activity at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the company's 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 transaction, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated 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 sale, the vice president now directly owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by company 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.

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