Cambridge Trust Co. lessened its holdings in Eversource Energy (NYSE:ES – Get Rating) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,233 shares of the utilities provider’s stock after selling 500 shares during the quarter. Cambridge Trust Co.’s holdings in Eversource Energy were worth $439,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Ronald Blue Trust Inc. grew its holdings in shares of Eversource Energy by 571.4% during the third quarter. Ronald Blue Trust Inc. now owns 329 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 280 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in Eversource Energy by 293.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 366 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 273 shares during the period. Point72 Hong Kong Ltd bought a new position in Eversource Energy during the 3rd quarter worth $35,000. CI Investments Inc. increased its position in Eversource Energy by 983.3% in the third quarter. CI Investments Inc. now owns 455 shares of the utilities provider’s stock worth $35,000 after buying an additional 413 shares during the period. Finally, Coston McIsaac & Partners bought a new stake in Eversource Energy in the second quarter valued at $44,000. Institutional investors own 77.37% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on ES. Wells Fargo & Company lowered their price target on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. UBS Group upped their target price on shares of Eversource Energy from $77.00 to $83.00 and gave the stock a “neutral” rating in a research report on Thursday, December 1st. Citigroup cut their price target on Eversource Energy from $91.00 to $86.00 and set a “neutral” rating on the stock in a report on Thursday, February 16th. Morgan Stanley decreased their price objective on Eversource Energy from $90.00 to $87.00 and set an “equal weight” rating for the company in a report on Wednesday, February 22nd. Finally, BMO Capital Markets lowered their target price on Eversource Energy from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 15th. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $89.00.
Eversource Energy Stock Performance
Eversource Energy (NYSE:ES – Get Rating) last announced its quarterly earnings data on Monday, February 13th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.24 billion. Eversource Energy had a net margin of 11.43% and a return on equity of 9.38%. The company’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.91 EPS. Research analysts forecast that Eversource Energy will post 4.37 EPS for the current fiscal year.
Eversource Energy Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Thursday, March 2nd will be paid a $0.675 dividend. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $2.70 annualized dividend and a dividend yield of 3.56%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.64. Eversource Energy’s payout ratio is currently 66.83%.
Insider Buying and Selling
In related news, insider Frederica M. Williams sold 1,943 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $78.83, for a total transaction of $153,166.69. Following the completion of the sale, the insider now directly owns 20,763 shares in the company, valued at $1,636,747.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.38% of the company’s stock.
About Eversource Energy
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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