Eversource Energy (NYSE:ES) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue grew its position in shares of Eversource Energy (NYSE:ES) by 0.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,784 shares of the utilities provider’s stock after acquiring an additional 270 shares during the quarter. State of Alaska Department of Revenue’s holdings in Eversource Energy were worth $2,399,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group acquired a new stake in Eversource Energy in the third quarter worth about $31,000. Ashton Thomas Securities LLC acquired a new stake in Eversource Energy in the third quarter worth about $32,000. UMB Bank n.a. lifted its holdings in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC raised its position in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 350 shares in the last quarter. Finally, Asset Dedication LLC acquired a new stake in Eversource Energy in the 4th quarter valued at about $41,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

NYSE ES opened at $60.52 on Tuesday. The company has a 50 day simple moving average of $57.99 and a 200-day simple moving average of $62.74. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of -38.55, a price-to-earnings-growth ratio of 2.25 and a beta of 0.62. Eversource Energy has a 52-week low of $53.76 and a 52-week high of $69.01.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.97%. This is a positive change 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 -191.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ES shares. Jefferies Financial Group cut their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. BMO Capital Markets cut 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 report on Tuesday, October 15th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Finally, Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and cut their price target for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average 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.