Mystic Asset Management Inc. Boosts Stock Holdings in Eversource Energy (NYSE:ES)

Mystic Asset Management Inc. grew its stake in Eversource Energy (NYSE:ES - Free Report) by 44.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,439 shares of the utilities provider's stock after purchasing an additional 4,164 shares during the period. Mystic Asset Management Inc.'s holdings in Eversource Energy were worth $772,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its position in Eversource Energy by 3.4% during the 3rd quarter. Victory Capital Management Inc. now owns 121,166 shares of the utilities provider's stock worth $8,245,000 after buying an additional 3,960 shares during the period. CIBC Asset Management Inc boosted its position in Eversource Energy by 9.4% during the 3rd quarter. CIBC Asset Management Inc now owns 52,054 shares of the utilities provider's stock worth $3,542,000 after buying an additional 4,490 shares during the period. Empowered Funds LLC boosted its position in Eversource Energy by 76.4% during the 3rd quarter. Empowered Funds LLC now owns 9,389 shares of the utilities provider's stock worth $639,000 after buying an additional 4,065 shares during the period. Natixis Advisors LLC boosted its position in Eversource Energy by 4.4% during the 3rd quarter. Natixis Advisors LLC now owns 133,174 shares of the utilities provider's stock worth $9,062,000 after buying an additional 5,553 shares during the period. Finally, Claro Advisors LLC boosted its position in Eversource Energy by 7.1% during the 3rd quarter. Claro Advisors LLC now owns 10,471 shares of the utilities provider's stock worth $713,000 after buying an additional 693 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Eversource Energy Trading Down 1.0 %

Shares of NYSE:ES traded down $0.62 during mid-day trading on Friday, hitting $60.98. The company had a trading volume of 4,539,348 shares, compared to its average volume of 2,176,052. The firm has a fifty day moving average price of $59.94 and a 200 day moving average price of $61.89. The company has a market capitalization of $22.38 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a one year low of $54.75 and a one 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 earnings per share for the quarter, beating 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%. As a group, research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 4.94%. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio (DPR) is presently 130.30%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com downgraded shares of Eversource Energy from a "hold" rating to a "sell" rating in a research report on Friday. Wells Fargo & Company lowered their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Guggenheim restated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Scotiabank lowered 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, Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $67.45.

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The shares were 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 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 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 Eversource Energy stock in a transaction 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 completion of the sale, the insider now directly owns 22,671 shares of the company's stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by 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.