Congress Wealth Management LLC DE Raises Position in Eversource Energy (NYSE:ES)

Congress Wealth Management LLC DE boosted its position in shares of Eversource Energy (NYSE:ES) by 92.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,682 shares of the utilities provider’s stock after buying an additional 2,727 shares during the period. Congress Wealth Management LLC DE’s holdings in Eversource Energy were worth $326,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth about $29,000. Assetmark Inc. raised its holdings in 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 acquiring an additional 254 shares during the last quarter. Brooklyn Investment Group purchased a new position in Eversource Energy in the 3rd quarter worth approximately $31,000. Venturi Wealth Management LLC boosted its holdings in shares of Eversource Energy by 104.5% during the 4th 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. Finally, OFI Invest Asset Management purchased a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $35,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock opened at $61.13 on Friday. The business’s fifty day moving average price is $60.28 and its 200 day moving average price is $61.58. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. 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 company has a market capitalization of $22.44 billion, a PE ratio of 26.46, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared 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 yield of 4.92%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is currently 130.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group lowered their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday. Scotiabank reduced their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Barclays reduced their price target 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 equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $67.40.

Insider Activity

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 value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the 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. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.