Castellan Group Makes New $3.56 Million Investment in Eversource Energy (NYSE:ES)

Castellan Group acquired a new stake in Eversource Energy (NYSE:ES) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 62,036 shares of the utilities provider’s stock, valued at approximately $3,563,000. Eversource Energy accounts for approximately 1.5% of Castellan Group’s holdings, making the stock its 26th largest holding.

Other hedge funds also recently made changes to their positions in the company. UMB Bank n.a. boosted its holdings in shares of Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Eversource Energy during the third quarter worth approximately $114,000. Redhawk Wealth Advisors Inc. acquired a new stake in Eversource Energy during the third quarter worth approximately $228,000. Creative Planning boosted its holdings in shares of Eversource Energy by 6.7% during the third quarter. Creative Planning now owns 86,160 shares of the utilities provider’s stock worth $5,863,000 after acquiring an additional 5,417 shares during the period. Finally, Swedbank AB grew its position in shares of Eversource Energy by 2.2% in the third quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock valued at $35,684,000 after purchasing an additional 11,111 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $59.68 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company has a 50 day moving average of $57.94 and a 200-day moving average of $62.70. Eversource Energy has a 1-year low of $53.76 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last released 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 positive return on equity of 10.90% and a negative net margin of 4.73%. Research analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 5.04%. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Analyst Upgrades and Downgrades

ES has been the subject of several research reports. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $66.00 to $56.00 in a research report on Thursday, December 12th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday. Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays decreased their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $67.42.

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.