Sterling Capital Management LLC Raises Stake in Eversource Energy (NYSE:ES)

Sterling Capital Management LLC raised its position in Eversource Energy (NYSE:ES - Free Report) by 58.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,306 shares of the utilities provider's stock after buying an additional 7,875 shares during the quarter. Sterling Capital Management LLC's holdings in Eversource Energy were worth $1,224,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Heritage Trust Co acquired a new stake in shares of Eversource Energy during the 4th quarter worth $1,520,000. Treasurer of the State of North Carolina grew its stake in Eversource Energy by 2.5% during the fourth quarter. Treasurer of the State of North Carolina now owns 157,389 shares of the utilities provider's stock worth $9,039,000 after buying an additional 3,900 shares in the last quarter. LSV Asset Management bought a new position in Eversource Energy in the 4th quarter valued at about $2,223,000. Capital Fund Management S.A. acquired a new position in shares of Eversource Energy in the 4th quarter valued at approximately $4,334,000. Finally, Bessemer Group Inc. lifted its holdings in shares of Eversource Energy by 62.5% during the 4th quarter. Bessemer Group Inc. now owns 14,335 shares of the utilities provider's stock worth $823,000 after acquiring an additional 5,514 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ES has been the subject of several research reports. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Monday, April 14th. Scotiabank decreased 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 report on Thursday, February 13th. Jefferies Financial Group reduced 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 dropped their price target on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Finally, Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $65.78.

Eversource Energy Stock Performance

Shares of Eversource Energy stock traded down $0.68 on Friday, hitting $57.38. 3,762,639 shares of the company's stock were exchanged, compared to its average volume of 2,335,212. The company has a 50-day simple moving average of $60.22 and a 200-day simple moving average of $60.56. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The stock has a market capitalization of $21.06 billion, a PE ratio of 24.84, a PEG ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES - Get Free Report) last released 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%. As a group, equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently announced 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 boost from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.25%. Eversource Energy's payout ratio is 130.30%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the firm's stock in a transaction dated 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 approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jay S. Buth sold 980 shares of the 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 sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

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.