Rockland Trust Co. grew its stake in Eversource Energy (NYSE:ES) by 8.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 31,057 shares of the utilities provider’s stock after purchasing an additional 2,472 shares during the quarter. Rockland Trust Co.’s holdings in Eversource Energy were worth $1,962,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently added to or reduced their stakes in the company. Advisory Services Network LLC grew its holdings in Eversource Energy by 1.7% during the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 32 shares during the period. Risk Paradigm Group LLC boosted its position in Eversource Energy by 111.7% during the third quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock worth $128,000 after purchasing an additional 1,117 shares in the last quarter. Sun Life Financial INC boosted its position in Eversource Energy by 23,040.0% during the second quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 2,304 shares in the last quarter. WFG Advisors LP boosted its position in Eversource Energy by 127.8% during the second quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Eversource Energy by 63.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,265 shares in the last quarter. 72.14% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on the company. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday. Williams Capital boosted their target price on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Credit Suisse Group boosted their target price on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research report on Monday, October 2nd. Bank of America assumed coverage on Eversource Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price on the stock. Finally, Morgan Stanley boosted their target price on Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $64.95.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The company had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company earned $0.83 earnings per share. The firm’s revenue was down 2.5% compared to the same quarter last year. sell-side analysts forecast that Eversource Energy will post 3.14 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Monday, December 18th were paid a $0.475 dividend. The ex-dividend date was Friday, December 15th. This represents a $1.90 annualized dividend and a yield of 3.09%. Eversource Energy’s payout ratio is currently 61.69%.
In related news, COO Werner J. Schweiger sold 10,098 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.
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Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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