Van ECK Associates Corp Has $6.39 Million Position in Eversource Energy (NYSE:ES)

Van ECK Associates Corp grew its stake in Eversource Energy (NYSE:ES) by 9.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 111,331 shares of the utilities provider’s stock after acquiring an additional 9,611 shares during the quarter. Van ECK Associates Corp’s holdings in Eversource Energy were worth $6,393,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ES. Brooklyn Investment Group acquired a new position in shares of Eversource Energy in the 3rd quarter valued at approximately $31,000. Ashton Thomas Securities LLC bought a new position in Eversource Energy in the third quarter valued at approximately $32,000. Larson Financial Group LLC boosted its holdings in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after buying an additional 350 shares during the period. MFA Wealth Advisors LLC bought a new stake in shares of Eversource Energy during the third quarter worth $48,000. Finally, UMB Bank n.a. raised its holdings in shares of Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 197 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Eversource Energy stock opened at $61.57 on Tuesday. The company has a market capitalization of $22.56 billion, a price-to-earnings ratio of -39.22, a PEG ratio of 2.25 and a beta of 0.62. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The stock’s 50 day moving average is $57.95 and its 200-day moving average is $62.62.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data 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%. Equities research analysts expect that Eversource Energy will post 4.56 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. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 4.89%. Eversource Energy’s dividend payout ratio is presently -182.17%.

Wall Street Analyst Weigh In

ES has been the subject of a number of research analyst reports. Barclays reduced their target price on shares of 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. Scotiabank reduced 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, February 13th. Jefferies Financial Group dropped their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $67.45.

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.