Eversource Energy (NYSE:ES) Shares Acquired by Assetmark Inc.

Assetmark Inc. boosted its holdings in shares of Eversource Energy (NYSE:ES) by 99.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 510 shares of the utilities provider’s stock after purchasing an additional 254 shares during the period. Assetmark Inc.’s holdings in Eversource Energy were worth $29,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its position in shares of Eversource Energy by 3.4% in the 3rd quarter. Victory Capital Management Inc. now owns 121,166 shares of the utilities provider’s stock valued at $8,245,000 after acquiring an additional 3,960 shares in the last quarter. ING Groep NV purchased a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $3,253,000. CIBC Asset Management Inc lifted its position in shares of Eversource Energy by 9.4% in the 3rd quarter. CIBC Asset Management Inc now owns 52,054 shares of the utilities provider’s stock valued at $3,542,000 after acquiring an additional 4,490 shares in the last quarter. Empirical Finance LLC lifted its position in shares of Eversource Energy by 2.3% in the 3rd quarter. Empirical Finance LLC now owns 12,039 shares of the utilities provider’s stock valued at $819,000 after acquiring an additional 267 shares in the last quarter. Finally, Empowered Funds LLC lifted its position in shares of Eversource Energy by 76.4% in the 3rd quarter. Empowered Funds LLC now owns 9,389 shares of the utilities provider’s stock valued at $639,000 after acquiring an additional 4,065 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ES has been the topic of several research reports. Wells Fargo & Company dropped their price objective 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. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Thursday. Barclays dropped their price objective on shares of 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, Jefferies Financial Group dropped 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 note on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.45.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred 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 transaction, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was 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 in the company, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Trading Up 2.3 %

ES opened at $61.50 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $22.57 billion, a PE ratio of 26.62, a PEG ratio of 2.35 and a beta of 0.60. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01. The firm has a 50-day moving average price of $59.42 and a two-hundred day moving average price of $62.01.

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, 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, equities analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 4.89%. Eversource Energy’s payout ratio 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.