Lincoln National Corp Increases Stock Position in Eversource Energy (NYSE:ES)

Posted by on May 10th, 2023

Lincoln National Corp raised its position in shares of Eversource Energy (NYSE:ES – Get Rating) by 8.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,711 shares of the utilities provider’s stock after buying an additional 281 shares during the quarter. Lincoln National Corp’s holdings in Eversource Energy were worth $311,000 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 company. Mascoma Wealth Management LLC purchased a new position in shares of Eversource Energy in the 4th quarter worth about $25,000. Piershale Financial Group Inc. purchased a new position in shares of Eversource Energy in the 4th quarter worth about $26,000. Point72 Hong Kong Ltd purchased a new position in shares of Eversource Energy in the 3rd quarter worth about $35,000. CI Investments Inc. raised its position 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 worth $35,000 after purchasing an additional 413 shares during the last quarter. Finally, Tortoise Investment Management LLC raised its position in shares of Eversource Energy by 25.9% in the 3rd quarter. Tortoise Investment Management LLC now owns 685 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 77.37% of the company’s stock.

Eversource Energy Trading Down 0.4 %

Eversource Energy stock opened at $76.45 on Wednesday. The business has a 50-day simple moving average of $77.09 and a two-hundred day simple moving average of $79.60. The company has a market cap of $26.67 billion, a P/E ratio of 18.33, a P/E/G ratio of 2.78 and a beta of 0.46. Eversource Energy has a 52-week low of $70.54 and a 52-week high of $94.41. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 1.31.

Eversource Energy (NYSE:ES – Get Rating) last released its quarterly earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The business had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.24 billion. Eversource Energy had a return on equity of 9.51% and a net margin of 11.52%. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.30 EPS. Analysts predict that Eversource Energy will post 4.36 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, May 18th will be paid a dividend of $0.675 per share. The ex-dividend date is Wednesday, May 17th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.53%. Eversource Energy’s dividend payout ratio (DPR) is presently 64.75%.

Insider Activity at Eversource Energy

In related 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 transaction of $153,166.69. Following the completion of the transaction, the insider now directly owns 20,763 shares in the company, valued at approximately $1,636,747.29. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ES shares. Morgan Stanley lifted their price target on Eversource Energy from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. BMO Capital Markets lifted their price objective on Eversource Energy from $86.00 to $89.00 and gave the stock a “market perform” rating in a report on Friday, April 14th. Evercore ISI upgraded Eversource Energy from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $86.00 to $92.00 in a report on Tuesday, January 24th. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Tuesday, March 21st. Finally, Argus reduced their price objective on Eversource Energy from $95.00 to $85.00 in a report on Thursday, March 30th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $87.58.

Eversource Energy Profile

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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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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