Morgan Dempsey Capital Management LLC Grows Position in Eversource Energy (NYSE:ES)

Morgan Dempsey Capital Management LLC increased its position in Eversource Energy (NYSE:ES - Free Report) by 41.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 93,558 shares of the utilities provider's stock after purchasing an additional 27,226 shares during the quarter. Eversource Energy makes up about 2.2% of Morgan Dempsey Capital Management LLC's investment portfolio, making the stock its 26th largest holding. Morgan Dempsey Capital Management LLC's holdings in Eversource Energy were worth $5,373,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its position in Eversource Energy by 1.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider's stock valued at $1,368,000 after acquiring an additional 200 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in shares of Eversource Energy by 15.4% during the third quarter. First Trust Direct Indexing L.P. now owns 10,051 shares of the utilities provider's stock valued at $684,000 after purchasing an additional 1,345 shares during the last quarter. Prossimo Advisors LLC lifted its holdings in shares of Eversource Energy by 4.3% during the third quarter. Prossimo Advisors LLC now owns 6,069 shares of the utilities provider's stock valued at $413,000 after purchasing an additional 250 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Eversource Energy by 12.2% in the 3rd quarter. Van ECK Associates Corp now owns 101,720 shares of the utilities provider's stock worth $6,824,000 after purchasing an additional 11,062 shares in the last quarter. Finally, Old North State Wealth Management LLC grew its stake in shares of Eversource Energy by 14.8% in the 3rd quarter. Old North State Wealth Management LLC now owns 4,328 shares of the utilities provider's stock worth $295,000 after buying an additional 557 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

A number of research analysts have issued reports on the company. Barclays lowered their price objective on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. StockNews.com cut shares of Eversource Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Scotiabank reduced their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $67.45.

Eversource Energy Stock Performance

Shares of ES traded down $0.92 during mid-day trading on Wednesday, hitting $58.83. 2,119,638 shares of the company traded hands, compared to its average volume of 2,199,881. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. 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 stock has a 50-day moving average price of $58.99 and a two-hundred day moving average price of $62.35. The stock has a market cap of $21.58 billion, a price-to-earnings ratio of 25.47, a P/E/G ratio of 2.35 and a beta of 0.60.

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

Eversource Energy Increases Dividend

The company also recently announced 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 is an increase from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 5.12%. Eversource Energy's dividend payout ratio is currently 130.30%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The shares were 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. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Corporate 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.