Easterly Investment Partners LLC Increases Stock Holdings in Eversource Energy (NYSE:ES)

Easterly Investment Partners LLC lifted its position in Eversource Energy (NYSE:ES) by 22.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 251,801 shares of the utilities provider’s stock after acquiring an additional 45,418 shares during the period. Eversource Energy accounts for approximately 1.1% of Easterly Investment Partners LLC’s investment portfolio, making the stock its 17th biggest holding. Easterly Investment Partners LLC owned about 0.07% of Eversource Energy worth $14,461,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ES. Vanguard Group Inc. lifted its position in shares of Eversource Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares in the last quarter. State Street Corp increased its holdings in shares of Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy during the third quarter valued at about $808,783,000. Charles Schwab Investment Management Inc. grew its stake in shares of Eversource Energy by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock valued at $570,500,000 after buying an additional 226,972 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Eversource Energy by 3.1% during the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after purchasing an additional 268,588 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 21st. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group lowered their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Finally, Scotiabank dropped their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and a consensus price target of $67.40.

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $59.89 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The business has a 50 day moving average price of $60.17 and a 200 day moving average price of $61.68. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 25.92, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (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%. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently disclosed 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 represents a $3.01 dividend on an annualized basis and a yield of 5.03%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Eversource Energy Company 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.