Kelly Financial Group LLC Invests $326,000 in Eversource Energy (NYSE:ES)

Kelly Financial Group LLC purchased a new stake in Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,679 shares of the utilities provider’s stock, valued at approximately $326,000.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after acquiring an additional 430,587 shares during the period. Wellington Management Group LLP acquired a new position in Eversource Energy in the third quarter valued at about $808,783,000. Geode Capital Management LLC lifted its position in Eversource Energy by 3.1% during the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after purchasing an additional 268,588 shares during the period. FMR LLC grew its stake in Eversource Energy by 2.7% during the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after buying an additional 185,381 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eversource Energy by 4.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after buying an additional 216,630 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday. Barclays lowered their price target 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. Scotiabank reduced their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Finally, Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $67.45.

Eversource Energy Stock Performance

NYSE:ES opened at $63.01 on Monday. The stock’s 50-day moving average is $58.80 and its 200-day moving average is $62.42. Eversource Energy has a 1-year low of $54.75 and a 1-year 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 stock has a market cap of $23.11 billion, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping 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%. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.78%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

Insider Buying and Selling

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The shares were 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 owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate 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.