Proficio Capital Partners LLC Makes New $7.69 Million Investment in Eversource Energy (NYSE:ES)

Proficio Capital Partners LLC purchased a new stake in Eversource Energy (NYSE:ES - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 133,927 shares of the utilities provider's stock, valued at approximately $7,691,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at about $808,783,000. National Bank of Canada FI increased its holdings in Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider's stock valued at $51,019,000 after buying an additional 612,421 shares during the last quarter. 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 valued at $99,554,000 after buying an additional 510,582 shares in the last quarter. State Street Corp lifted its holdings in Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider's stock worth $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Finally, Retirement Systems of Alabama grew its position in shares of Eversource Energy by 518.1% in the 3rd quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider's stock worth $32,683,000 after acquiring an additional 402,574 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

ES has been the topic of several research analyst reports. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price objective 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, February 13th. Scotiabank cut their target price 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, StockNews.com downgraded Eversource Energy from a "hold" rating to a "sell" rating in a research note on Saturday, March 1st. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $67.45.

Insiders Place Their Bets

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the business's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value 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. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Price Performance

Shares of NYSE ES traded down $0.81 during midday trading on Thursday, reaching $57.98. The company's stock had a trading volume of 1,214,857 shares, compared to its average volume of 2,196,284. Eversource Energy has a one year low of $54.75 and a one year high of $69.01. The company has a market cap of $21.27 billion, a price-to-earnings ratio of 25.12, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The company has a 50 day moving average price of $58.99 and a 200 day moving average price of $62.35. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. On average, equities research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 5.19%. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio (DPR) is currently 130.30%.

About Eversource Energy

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.