Summit Trail Advisors LLC Boosts Holdings in Eversource Energy (NYSE:ES)

Summit Trail Advisors LLC boosted its holdings in shares of Eversource Energy (NYSE:ES) by 4.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,893 shares of the utilities provider’s stock after acquiring an additional 216 shares during the period. Summit Trail Advisors LLC’s holdings in Eversource Energy were worth $281,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy in the third quarter worth $114,000. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Eversource Energy in the third quarter valued at $228,000. Creative Planning boosted its stake in shares of Eversource Energy by 6.7% during the third quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock valued at $5,863,000 after acquiring an additional 5,417 shares during the last quarter. Finally, Swedbank AB increased its position in Eversource Energy by 2.2% during the 3rd quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock worth $35,684,000 after purchasing an additional 11,111 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $59.68 on Thursday. The business has a 50-day moving average of $57.94 and a two-hundred day moving average of $62.70. The firm has a market capitalization of $21.87 billion, a PE ratio of -38.01, a P/E/G ratio of 2.25 and a beta of 0.62. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a 12 month low of $53.76 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. As a group, research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.04%. This is a boost 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 is -182.17%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ES. Jefferies Financial Group reduced their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Barclays reduced their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the stock from $66.00 to $56.00 in a research note on Thursday, December 12th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $67.42.

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.