Kestra Private Wealth Services LLC Increases Stake in Eversource Energy (NYSE:ES)

Kestra Private Wealth Services LLC raised its holdings in shares of Eversource Energy (NYSE:ES) by 36.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,476 shares of the utilities provider’s stock after buying an additional 14,312 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Eversource Energy were worth $3,071,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ES. Stoneridge Investment Partners LLC purchased a new stake in Eversource Energy during the 4th quarter valued at about $1,616,000. Empowered Funds LLC boosted its holdings in shares of Eversource Energy by 58.0% during the 4th quarter. Empowered Funds LLC now owns 14,830 shares of the utilities provider’s stock worth $852,000 after purchasing an additional 5,441 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Eversource Energy by 22.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 4,852 shares of the utilities provider’s stock valued at $279,000 after purchasing an additional 888 shares in the last quarter. Apollon Wealth Management LLC increased its holdings in shares of Eversource Energy by 19.4% in the fourth quarter. Apollon Wealth Management LLC now owns 9,312 shares of the utilities provider’s stock valued at $535,000 after purchasing an additional 1,513 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Eversource Energy by 6.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,418 shares of the utilities provider’s stock worth $3,412,000 after buying an additional 3,687 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock opened at $60.52 on Tuesday. The business’s fifty day moving average price is $57.99 and its 200 day moving average price is $62.74. Eversource Energy has a 12-month low of $53.76 and a 12-month high of $69.01. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The company has a market capitalization of $22.17 billion, a PE ratio of -38.55, a P/E/G ratio of 2.25 and a beta of 0.62.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.97%. Eversource Energy’s dividend payout ratio is -191.72%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ES. Barclays dropped 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. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research report on Monday. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the stock from $66.00 to $56.00 in a research note on Thursday, December 12th. BMO Capital Markets dropped their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research note on Tuesday, October 15th. Finally, Jefferies Financial Group decreased their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.