355,493 Shares in Eversource Energy (NYSE:ES) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Eversource Energy (NYSE:ES) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 355,493 shares of the utilities provider’s stock, valued at approximately $20,416,000. KLP Kapitalforvaltning AS owned about 0.10% of Eversource Energy as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in ES. Empowered Funds LLC increased its holdings in Eversource Energy by 76.4% in the 3rd quarter. Empowered Funds LLC now owns 9,389 shares of the utilities provider’s stock worth $639,000 after acquiring an additional 4,065 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Eversource Energy by 0.7% in the 3rd quarter. Pathstone Holdings LLC now owns 45,798 shares of the utilities provider’s stock worth $3,117,000 after acquiring an additional 331 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in Eversource Energy by 6.7% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 126,964 shares of the utilities provider’s stock worth $8,640,000 after acquiring an additional 8,011 shares during the last quarter. Intech Investment Management LLC increased its holdings in Eversource Energy by 6.0% in the 3rd quarter. Intech Investment Management LLC now owns 40,268 shares of the utilities provider’s stock worth $2,740,000 after acquiring an additional 2,296 shares during the last quarter. Finally, Nwam LLC purchased a new stake in Eversource Energy in the 3rd quarter worth about $312,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES opened at $60.98 on Friday. The stock has a 50-day moving average price of $59.94 and a 200-day moving average price of $61.85. The company has a market cap of $22.38 billion, a PE ratio of 26.40, 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. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.94%. Eversource Energy’s payout ratio is presently 130.30%.

Insider Buying and Selling

In related news, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 in the company, valued at $1,535,318.26. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business’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 owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ES has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday. 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. Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group reduced their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and an average price target of $67.45.

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.