Gofen & Glossberg LLC IL lifted its position in shares of Eversource Energy (NYSE:ES – Get Rating) by 5.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,806 shares of the utilities provider’s stock after acquiring an additional 283 shares during the quarter. Gofen & Glossberg LLC IL’s holdings in Eversource Energy were worth $487,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of ES. Piershale Financial Group Inc. acquired a new position in Eversource Energy during the 4th quarter worth about $26,000. Ronald Blue Trust Inc. lifted its holdings in Eversource Energy by 571.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 329 shares of the utilities provider’s stock worth $28,000 after buying an additional 280 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Eversource Energy by 293.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 366 shares of the utilities provider’s stock worth $29,000 after buying an additional 273 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Eversource Energy in the 3rd quarter valued at about $35,000. Finally, CI Investments Inc. lifted its stake in shares of Eversource Energy by 983.3% in the 3rd quarter. CI Investments Inc. now owns 455 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 413 shares during the period. Institutional investors and hedge funds own 77.37% of the company’s stock.
Insider Transactions at Eversource Energy
In other news, insider Frederica M. Williams sold 1,943 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $78.83, for a total value of $153,166.69. Following the transaction, the insider now owns 20,763 shares in the company, valued at approximately $1,636,747.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.38% of the company’s stock.
Eversource Energy Stock Performance
Eversource Energy (NYSE:ES – Get Rating) last issued its quarterly earnings data on Monday, February 13th. The utilities provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). Eversource Energy had a return on equity of 9.38% and a net margin of 11.43%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same period in the prior year, the firm posted $0.91 earnings per share. The business’s revenue for the quarter was up 22.1% on a year-over-year basis. Equities analysts forecast that Eversource Energy will post 4.37 earnings per share for the current fiscal year.
Eversource Energy Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 2nd will be paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Wednesday, March 1st. This is an increase from Eversource Energy’s previous quarterly dividend of $0.64. Eversource Energy’s payout ratio is presently 66.83%.
Analyst Upgrades and Downgrades
ES has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price objective on Eversource Energy from $89.00 to $86.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 15th. UBS Group boosted their price objective on Eversource Energy from $77.00 to $83.00 and gave the company a “neutral” rating in a research note on Thursday, December 1st. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Tuesday. Morgan Stanley decreased their target price on Eversource Energy from $87.00 to $82.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Citigroup decreased their target price on Eversource Energy from $91.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, February 16th. Nine analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $88.55.
About Eversource Energy
Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.
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