Natixis Advisors L.P. Increases Stock Holdings in Eversource Energy (NYSE:ES)

Posted by Defense World Staff on Apr 12th, 2023

Natixis Advisors L.P. lifted its position in Eversource Energy (NYSE:ES – Get Rating) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 191,340 shares of the utilities provider’s stock after purchasing an additional 16,859 shares during the quarter. Natixis Advisors L.P. owned about 0.05% of Eversource Energy worth $16,042,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ES. Mascoma Wealth Management LLC purchased a new stake in shares of Eversource Energy in the fourth quarter valued at about $25,000. Piershale Financial Group Inc. acquired a new position in Eversource Energy in the fourth quarter valued at about $26,000. Ronald Blue Trust Inc. lifted its position in Eversource Energy by 571.4% in the third quarter. Ronald Blue Trust Inc. now owns 329 shares of the utilities provider’s stock valued at $28,000 after buying an additional 280 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in Eversource Energy by 293.5% in the third quarter. Hexagon Capital Partners LLC now owns 366 shares of the utilities provider’s stock valued at $29,000 after buying an additional 273 shares during the last quarter. Finally, Point72 Hong Kong Ltd acquired a new position in Eversource Energy in the third quarter valued at about $35,000. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Eversource Energy Stock Down 0.3 %

Shares of NYSE:ES opened at $80.25 on Wednesday. The firm’s 50 day moving average price is $77.63 and its 200 day moving average price is $79.40. The stock has a market cap of $27.98 billion, a price-to-earnings ratio of 19.86, a price-to-earnings-growth ratio of 2.85 and a beta of 0.46. Eversource Energy has a fifty-two week low of $70.54 and a fifty-two week high of $94.63. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 1.27.

Eversource Energy (NYSE:ES – Get Rating) last issued its earnings results on Monday, February 13th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.24 billion. Eversource Energy had a net margin of 11.43% and a return on equity of 9.38%. The firm’s revenue was up 22.1% compared to the same quarter last year. During the same period last year, the business earned $0.91 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.36 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Thursday, March 2nd were issued a $0.675 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.64. The ex-dividend date was Wednesday, March 1st. This represents a $2.70 annualized dividend and a yield of 3.36%. Eversource Energy’s dividend payout ratio (DPR) is 66.83%.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Faasen William C. Van sold 1,943 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $81.08, for a total value of $157,538.44. Following the transaction, the insider now directly owns 18,841 shares in the company, valued at $1,527,628.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.38% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 15th. Argus decreased their target price on shares of Eversource Energy from $95.00 to $85.00 in a research report on Thursday, March 30th. Morgan Stanley decreased their target price on shares of Eversource Energy from $87.00 to $82.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 21st. BMO Capital Markets decreased their target price on shares of Eversource Energy from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 15th. Finally, Citigroup reduced their price target on shares of Eversource Energy from $91.00 to $86.00 and set a “neutral” rating on the stock in a research report on Thursday, February 16th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $87.00.

Eversource Energy Company Profile

(Get Rating)

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.