Fox Run Management L.L.C. Purchases New Stake in Eversource Energy (NYSE:ES)

Fox Run Management L.L.C. bought a new stake in shares of Eversource Energy (NYSE:ES) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 20,051 shares of the utilities provider’s stock, valued at approximately $1,152,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Kestra Investment Management LLC bought a new stake in Eversource Energy during the fourth quarter valued at $29,000. Assetmark Inc. increased its stake in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 254 shares during the last quarter. Brooklyn Investment Group bought a new stake in Eversource Energy during the third quarter valued at $31,000. Venturi Wealth Management LLC increased its stake in Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 301 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in Eversource Energy during the fourth quarter valued at $35,000. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

ES has been the subject of several recent research reports. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday. Scotiabank lowered 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. Jefferies Financial Group lowered their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average target price of $67.45.

Insider Buying and Selling at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the company’s 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 transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $60.98 on Friday. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $22.38 billion, a price-to-earnings ratio of 26.40, a PEG ratio of 2.35 and a beta of 0.60. The firm has a 50-day moving average of $59.94 and a two-hundred day moving average of $61.85.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. As a group, analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed 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 of this dividend 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 4.94%. Eversource Energy’s dividend payout ratio is currently 130.30%.

About Eversource Energy

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.