Anchor Capital Advisors LLC Has $49.70 Million Stake in Eversource Energy (NYSE:ES)

Anchor Capital Advisors LLC increased its stake in shares of Eversource Energy (NYSE:ES) by 71.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 805,171 shares of the utilities provider’s stock after acquiring an additional 335,775 shares during the period. Eversource Energy accounts for about 1.3% of Anchor Capital Advisors LLC’s holdings, making the stock its 28th largest position. Anchor Capital Advisors LLC owned about 0.23% of Eversource Energy worth $49,695,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy during the 4th quarter valued at about $26,000. Bfsg LLC acquired a new position in shares of Eversource Energy during the 4th quarter valued at about $31,000. UMB Bank n.a. increased its holdings in shares of Eversource Energy by 130.9% during the 3rd quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 364 shares during the last quarter. CVA Family Office LLC acquired a new stake in Eversource Energy in the 4th quarter valued at approximately $43,000. Finally, MV Capital Management Inc. grew its holdings in Eversource Energy by 40.4% in the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after buying an additional 206 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

ES has been the topic of a number of research analyst reports. Barclays lowered their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. StockNews.com raised Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Citigroup raised their target price on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. BMO Capital Markets raised their target price on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Finally, UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $65.85.

Insider Buying and Selling at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy 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 directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded up $1.00 during midday trading on Monday, hitting $60.46. 1,789,852 shares of the company were exchanged, compared to its average volume of 2,891,882. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The firm has a market cap of $21.20 billion, a P/E ratio of -48.00, a PEG ratio of 3.16 and a beta of 0.58. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $78.64. The firm has a 50 day simple moving average of $58.94 and a 200-day simple moving average of $57.94.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the firm posted $0.92 EPS. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. Research analysts forecast that Eversource Energy will post 4.51 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given 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 annualized dividend and a yield of 4.73%. Eversource Energy’s payout ratio is presently -226.98%.

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.