New York Life Investment Management LLC Increases Position in Eversource Energy (NYSE:ES)

New York Life Investment Management LLC raised its position in Eversource Energy (NYSE:ES) by 6.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,664 shares of the utilities provider’s stock after purchasing an additional 3,167 shares during the period. New York Life Investment Management LLC’s holdings in Eversource Energy were worth $3,197,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Louisiana State Employees Retirement System grew its position in shares of Eversource Energy by 1.0% in the 3rd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock valued at $1,368,000 after buying an additional 200 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of Eversource Energy by 15.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 10,051 shares of the utilities provider’s stock valued at $684,000 after buying an additional 1,345 shares during the last quarter. Prossimo Advisors LLC grew its position in shares of Eversource Energy by 4.3% in the 3rd quarter. Prossimo Advisors LLC now owns 6,069 shares of the utilities provider’s stock valued at $413,000 after buying an additional 250 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Eversource Energy by 12.2% in the 3rd quarter. Van ECK Associates Corp now owns 101,720 shares of the utilities provider’s stock valued at $6,824,000 after buying an additional 11,062 shares during the last quarter. Finally, Old North State Wealth Management LLC grew its position in shares of Eversource Energy by 14.8% in the 3rd quarter. Old North State Wealth Management LLC now owns 4,328 shares of the utilities provider’s stock valued at $295,000 after buying an additional 557 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 1.0 %

Shares of NYSE:ES opened at $63.01 on Friday. The company has a market cap of $23.11 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.35 and a beta of 0.62. The firm’s 50-day simple moving average is $58.80 and its 200-day simple moving average is $62.45. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01.

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, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. As a group, equities research analysts predict 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 dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. 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. Eversource Energy’s payout ratio is currently 130.30%.

Analyst Ratings Changes

ES has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their target price 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. Barclays decreased their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Scotiabank decreased their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $67.45.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Eversource Energy 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.