Magnetar Financial LLC Trims Position in Eversource Energy (NYSE:ES)

Magnetar Financial LLC lowered its holdings in Eversource Energy (NYSE:ES) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,042 shares of the utilities provider’s stock after selling 1,462 shares during the quarter. Magnetar Financial LLC’s holdings in Eversource Energy were worth $5,171,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Brooklyn Investment Group purchased a new position in Eversource Energy during the third quarter valued at approximately $31,000. Kestra Investment Management LLC purchased a new position in shares of Eversource Energy during the 4th quarter valued at approximately $29,000. Assetmark Inc. lifted its stake in shares of Eversource Energy by 99.2% in the 4th 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 period. Larson Financial Group LLC boosted its holdings in Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position 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 buying an additional 301 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ES shares. Wells Fargo & Company decreased their price objective 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. Jefferies Financial Group lowered their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, March 13th. Scotiabank decreased their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Finally, Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Eversource Energy has an average rating of “Hold” and an average target price of $67.45.

Insiders Place Their Bets

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction on 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 directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Eversource Energy Stock Performance

ES opened at $61.57 on Thursday. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The firm has a market capitalization of $22.60 billion, a PE ratio of 26.66, a PEG ratio of 2.35 and a beta of 0.60. 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 firm’s 50-day moving average price is $59.74 and its 200 day moving average price is $61.93.

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

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

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.