Flputnam Investment Management Co. Boosts Stock Position in Eversource Energy (NYSE:ES)

Flputnam Investment Management Co. raised its holdings in Eversource Energy (NYSE:ES) by 29.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,906 shares of the utilities provider’s stock after purchasing an additional 4,784 shares during the quarter. Flputnam Investment Management Co.’s holdings in Eversource Energy were worth $1,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quarry LP grew its position in Eversource Energy by 275.0% during the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after buying an additional 231 shares during the period. Exchange Traded Concepts LLC bought a new stake in Eversource Energy in the fourth quarter worth about $26,000. Resurgent Financial Advisors LLC bought a new stake in Eversource Energy in the fourth quarter worth about $27,000. UMB Bank n.a. raised its position in Eversource Energy by 130.9% in the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 364 shares during the period. Finally, MV Capital Management Inc. raised its position in Eversource Energy by 40.4% in the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 206 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The disclosure for this sale can be found here. Insiders sold a total of 6,250 shares of company stock valued at $352,014 in the last quarter. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the topic of several research reports. Wells Fargo & Company lifted their price objective on shares of Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Argus lowered their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. The Goldman Sachs Group started coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price target on the stock. Finally, UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.08.

Eversource Energy Trading Down 1.8 %

ES stock opened at $57.20 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. Eversource Energy has a one year low of $52.03 and a one year high of $79.92. The firm has a 50 day simple moving average of $58.31 and a two-hundred day simple moving average of $57.77.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the prior year, the firm earned $0.92 EPS. Eversource Energy’s quarterly revenue was down 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Eversource Energy will post 4.52 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 5.00%. The ex-dividend date was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s payout ratio is currently -226.98%.

About Eversource Energy

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.