Castellan Group purchased a new position in shares of Eversource Energy (NYSE:ES - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 62,036 shares of the utilities provider's stock, valued at approximately $3,563,000. Eversource Energy comprises about 1.5% of Castellan Group's investment portfolio, making the stock its 26th biggest position.
Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased its position in Eversource Energy by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider's stock worth $2,306,000 after buying an additional 9,981 shares during the period. Verity & Verity LLC acquired a new position in Eversource Energy during the fourth quarter valued at approximately $744,000. Nordea Investment Management AB raised its stake in Eversource Energy by 41.7% during the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider's stock worth $99,554,000 after acquiring an additional 510,582 shares in the last quarter. Landscape Capital Management L.L.C. boosted its holdings in shares of Eversource Energy by 46.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider's stock valued at $2,151,000 after acquiring an additional 10,093 shares in the last quarter. Finally, Everett Harris & Co. CA raised its stake in shares of Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider's stock valued at $465,000 after acquiring an additional 4,500 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on ES. StockNews.com cut Eversource Energy from a "hold" rating to a "sell" rating in a research note on Thursday. Wells Fargo & Company cut their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday. Barclays cut their price objective on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Scotiabank lowered their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and a consensus price target of $67.45.
Check Out Our Latest Report on Eversource Energy
Eversource Energy Stock Down 1.5 %
ES traded down $0.93 on Monday, reaching $61.57. The company's stock had a trading volume of 3,268,740 shares, compared to its average volume of 3,088,778. The stock has a 50 day moving average of $57.95 and a two-hundred day moving average of $62.62. The company has a market capitalization of $22.56 billion, a price-to-earnings ratio of -39.22, a P/E/G ratio of 2.25 and a beta of 0.62. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.
Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. As a group, analysts forecast that Eversource Energy will post 4.56 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 issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Tuesday, March 4th. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio is -182.17%.
About Eversource Energy
(
Free Report)
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.
Further Reading
Before you consider Eversource Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eversource Energy wasn't on the list.
While Eversource Energy currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Get this report to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
