Proficio Capital Partners LLC Acquires New Position in Eversource Energy (NYSE:ES)

Proficio Capital Partners LLC bought a new position in Eversource Energy (NYSE:ES) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 133,927 shares of the utilities provider’s stock, valued at approximately $7,691,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ES. Brown Brothers Harriman & Co. lifted its holdings in shares of Eversource Energy by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 166 shares during the last quarter. Exchange Traded Concepts LLC lifted 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 during the last quarter. UMB Bank n.a. boosted 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 valued at $41,000 after acquiring an additional 197 shares during the period. Summit Trail Advisors LLC grew its position in shares of 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 acquiring an additional 216 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Eversource Energy by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock worth $837,000 after acquiring an additional 232 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The sale 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 business’s 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 completion of the sale, the vice president now directly 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 position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Barclays reduced their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Finally, Scotiabank lowered their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $67.45.

Eversource Energy Price Performance

NYSE ES opened at $61.50 on Friday. The stock has a market capitalization of $22.57 billion, a P/E ratio of 26.62, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The business’s fifty day moving average is $59.42 and its two-hundred day moving average is $62.05. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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%. On average, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.89%. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

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.