Envestnet Portfolio Solutions Inc. Acquires Shares of 3,828 Eversource Energy (NYSE:ES)

Envestnet Portfolio Solutions Inc. acquired a new position in shares of Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,828 shares of the utilities provider’s stock, valued at approximately $220,000.

Several other institutional investors have also modified their holdings of the company. Exchange Traded Concepts LLC raised its stake in Eversource Energy by 10.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after buying an additional 176 shares in the last quarter. UMB Bank n.a. raised its position in shares of Eversource Energy by 38.4% during the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 197 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 216 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Eversource Energy by 1.9% in the third quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock valued at $837,000 after purchasing an additional 232 shares in the last quarter. Finally, Keybank National Association OH increased its stake in Eversource Energy by 2.6% in the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock valued at $522,000 after purchasing an additional 233 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

NYSE:ES opened at $61.13 on Friday. The company’s 50-day moving average is $60.28 and its two-hundred day moving average is $61.62. 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 firm has a market cap of $22.44 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Research analysts expect 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 dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.92%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is 130.30%.

Analysts Set New Price Targets

ES has been the subject of several research analyst reports. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday. 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. Jefferies Financial Group cut their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company reduced 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. Finally, Scotiabank reduced their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.40.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. 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 company’s 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 disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Company 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.