Kestra Investment Management LLC Makes New Investment in Eversource Energy (NYSE:ES)

Kestra Investment Management LLC purchased a new position in Eversource Energy (NYSE:ES) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 505 shares of the utilities provider’s stock, valued at approximately $29,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Venturi Wealth Management LLC grew its holdings in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Eversource Energy by 16.9% in the fourth quarter. D.A. Davidson & CO. now owns 24,910 shares of the utilities provider’s stock worth $1,431,000 after purchasing an additional 3,593 shares during the last quarter. Truist Financial Corp grew its holdings in Eversource Energy by 5.6% in the fourth quarter. Truist Financial Corp now owns 21,385 shares of the utilities provider’s stock worth $1,228,000 after purchasing an additional 1,138 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Eversource Energy by 6.5% in the fourth quarter. CIBC Asset Management Inc now owns 55,454 shares of the utilities provider’s stock worth $3,185,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Eversource Energy by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 418,205 shares of the utilities provider’s stock valued at $24,018,000 after buying an additional 4,331 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eversource Energy news, 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 approximately $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company’s stock.

Eversource Energy Trading Up 0.0 %

NYSE ES opened at $63.41 on Friday. The company has a market capitalization of $23.26 billion, a PE ratio of 27.45, a P/E/G ratio of 2.35 and a beta of 0.62. The company has a fifty day moving average of $58.19 and a 200 day moving average of $62.52. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) 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%. Research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current 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 given a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.75%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is 123.81%.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of research analyst reports. Barclays dropped their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Scotiabank dropped their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $67.45.

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.