LSV Asset Management Takes Position in Eversource Energy (NYSE:ES)

LSV Asset Management purchased a new position in Eversource Energy (NYSE:ES) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 38,700 shares of the utilities provider’s stock, valued at approximately $2,223,000.

A number of other hedge funds also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after purchasing an additional 9,981 shares in the last quarter. Verity & Verity LLC acquired a new stake in Eversource Energy in the 4th quarter worth about $744,000. Nordea Investment Management AB increased its stake in Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after buying an additional 510,582 shares in the last quarter. Everett Harris & Co. CA raised its holdings in shares of Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock valued at $465,000 after acquiring an additional 4,500 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Eversource Energy by 12.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider’s stock valued at $4,198,000 after acquiring an additional 7,967 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ES shares. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Monday. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Scotiabank cut their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Finally, Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $65.78.

Eversource Energy Price Performance

NYSE:ES opened at $58.49 on Tuesday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The stock’s fifty day moving average is $60.41 and its two-hundred day moving average is $60.74. The company has a market capitalization of $21.47 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.35 and a beta of 0.58. 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 (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating 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%. Equities analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were given a dividend of $0.7525 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.15%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated 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 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 owned by insiders.

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.