Bryce Point Capital LLC Invests $497,000 in Eversource Energy (NYSE:ES)

Bryce Point Capital LLC purchased a new stake in Eversource Energy (NYSE:ES - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,656 shares of the utilities provider's stock, valued at approximately $497,000.

Other hedge funds have also recently bought and sold shares of the company. Groupama Asset Managment grew its position in shares of Eversource Energy by 235.4% during the fourth quarter. Groupama Asset Managment now owns 28,457 shares of the utilities provider's stock worth $1,631,000 after buying an additional 19,973 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Eversource Energy in the 4th quarter valued at about $134,000. OLD Mission Capital LLC bought a new position in shares of Eversource Energy during the fourth quarter worth about $1,938,000. Geode Capital Management LLC increased its holdings in Eversource Energy by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock valued at $547,550,000 after buying an additional 517,042 shares during the last quarter. Finally, Nemes Rush Group LLC increased its holdings in Eversource Energy by 816.0% in the fourth quarter. Nemes Rush Group LLC now owns 1,200 shares of the utilities provider's stock valued at $69,000 after buying an additional 1,069 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Stock Performance

Shares of NYSE ES traded up $2.17 during midday trading on Wednesday, reaching $56.42. 4,872,109 shares of the company traded hands, compared to its average volume of 2,314,948. The company has a market cap of $20.71 billion, a price-to-earnings ratio of 24.42, a PEG ratio of 2.35 and a beta of 0.58. The stock has a 50-day moving average price of $60.50 and a 200 day moving average price of $60.98. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

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Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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%. Sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.33%. Eversource Energy's dividend payout ratio is 130.30%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. StockNews.com downgraded shares of Eversource Energy from a "hold" rating to a "sell" rating in a research report on Sunday. Jefferies Financial Group lowered their price objective 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. 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 report on Wednesday, January 22nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $67.44.

Insider Activity at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the firm'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 completion of the sale, the insider now directly owns 22,671 shares of the company's stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jay S. Buth sold 980 shares of Eversource Energy 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 transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $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. 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.