J. Safra Sarasin Holding AG Acquires 17,023 Shares of Eversource Energy $ES

J. Safra Sarasin Holding AG boosted its holdings in Eversource Energy (NYSE:ES) by 247.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,905 shares of the utilities provider’s stock after buying an additional 17,023 shares during the period. J. Safra Sarasin Holding AG’s holdings in Eversource Energy were worth $1,701,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Eversource Energy by 7.9% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 419,251 shares of the utilities provider’s stock valued at $26,673,000 after buying an additional 30,641 shares in the last quarter. Hilltop National Bank purchased a new stake in Eversource Energy during the second quarter valued at about $32,000. Advisors Asset Management Inc. lifted its stake in Eversource Energy by 31.1% during the second quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock worth $2,506,000 after purchasing an additional 9,350 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Eversource Energy by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock worth $2,904,422,000 after purchasing an additional 691,165 shares in the last quarter. Finally, Global Retirement Partners LLC purchased a new position in shares of Eversource Energy in the 2nd quarter worth about $477,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Down 1.0%

Shares of Eversource Energy stock opened at $69.94 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25. The company’s 50 day moving average price is $67.73 and its 200-day moving average price is $68.18. The stock has a market capitalization of $26.24 billion, a price-to-earnings ratio of 19.16, a P/E/G ratio of 2.40 and a beta of 0.76.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.13 EPS. Equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be paid a $0.7875 dividend. The ex-dividend date of this dividend is Thursday, March 5th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 annualized dividend and a dividend yield of 4.5%. Eversource Energy’s payout ratio is 82.47%.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of recent research reports. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. UBS Group lowered their price objective on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. JPMorgan Chase & Co. reduced their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Finally, TD Cowen started coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price on the stock. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $71.50.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.