Zurcher Kantonalbank Zurich Cantonalbank Acquires 12,951 Shares of Eversource Energy (NYSE:ES)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Eversource Energy (NYSE:ES) by 3.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 443,444 shares of the utilities provider’s stock after purchasing an additional 12,951 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eversource Energy were worth $27,369,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC grew its stake in shares of Eversource Energy by 101,201.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock valued at $1,057,818,000 after purchasing an additional 12,604,649 shares during the period. Norges Bank bought a new stake in shares of Eversource Energy during the 4th quarter valued at about $274,262,000. Balyasny Asset Management L.P. grew its stake in shares of Eversource Energy by 4,397.4% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,072,762 shares of the utilities provider’s stock valued at $83,954,000 after purchasing an additional 1,048,909 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Eversource Energy by 64.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,285,636 shares of the utilities provider’s stock valued at $193,067,000 after purchasing an additional 891,641 shares during the period. Finally, Morgan Stanley grew its stake in shares of Eversource Energy by 19.3% during the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after purchasing an additional 723,318 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ES. BMO Capital Markets lifted their price objective on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Citigroup lifted their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. The Goldman Sachs Group began coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $66.08.

Eversource Energy Stock Up 2.3 %

NYSE ES opened at $58.51 on Thursday. The stock’s 50 day moving average is $58.40 and its 200 day moving average is $57.77. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92. The stock has a market cap of $20.52 billion, a PE ratio of -46.44, a P/E/G ratio of 3.04 and a beta of 0.58.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (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 firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the previous year, the firm earned $0.92 EPS. The business’s revenue was down 11.1% compared to the same quarter last year. Research analysts predict that Eversource Energy will post 4.52 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a $0.715 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a yield of 4.89%. Eversource Energy’s payout ratio is presently -226.98%.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.