Driehaus Capital Management LLC bought a new position in Eversource Energy (NYSE:ES) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,000 shares of the utilities provider’s stock, valued at approximately $379,000.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Calton & Associates Inc. acquired a new stake in Eversource Energy in the 4th quarter valued at $119,000. Risk Paradigm Group LLC increased its holdings in Eversource Energy by 111.7% in the 3rd quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock valued at $128,000 after purchasing an additional 1,117 shares in the last quarter. Resources Investment Advisors Inc. increased its holdings in Eversource Energy by 131.7% in the 4th quarter. Resources Investment Advisors Inc. now owns 2,085 shares of the utilities provider’s stock valued at $132,000 after purchasing an additional 1,185 shares in the last quarter. Farmers & Merchants Investments Inc. increased its holdings in Eversource Energy by 80.6% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 2,102 shares of the utilities provider’s stock valued at $133,000 after purchasing an additional 938 shares in the last quarter. Finally, Whittier Trust Co. increased its holdings in Eversource Energy by 96.7% in the 4th quarter. Whittier Trust Co. now owns 2,360 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 1,160 shares in the last quarter. 73.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of Eversource Energy (NYSE:ES) opened at $57.58 on Friday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.69. The firm has a market capitalization of $18,122.70, a PE ratio of 18.51, a PEG ratio of 3.05 and a beta of 0.37. Eversource Energy has a 52 week low of $55.93 and a 52 week high of $66.15.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, February 22nd. The utilities provider reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01). The business had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.87 billion. Eversource Energy had a net margin of 12.74% and a return on equity of 9.03%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. sell-side analysts predict that Eversource Energy will post 3.26 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Tuesday, March 6th will be given a dividend of $0.505 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.48. The ex-dividend date is Monday, March 5th. This represents a $2.02 annualized dividend and a dividend yield of 3.51%. Eversource Energy’s dividend payout ratio (DPR) is presently 64.95%.
Several analysts recently issued reports on the company. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Monday, January 8th. Janney Montgomery Scott downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 2nd. Evercore ISI assumed coverage on Eversource Energy in a report on Thursday, March 8th. They issued an “outperform” rating and a $62.00 price target for the company. Morgan Stanley downgraded Eversource Energy from an “overweight” rating to an “equal weight” rating and set a $63.00 price target for the company. in a report on Tuesday, February 13th. Finally, Wells Fargo & Co restated an “outperform” rating and set a $65.00 target price (down from $72.00) on shares of Eversource Energy in a research note on Monday, February 26th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.82.
About Eversource Energy
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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