Cable Hill Partners LLC Grows Stock Position in Eversource Energy (NYSE:ES)

Cable Hill Partners LLC raised its holdings in Eversource Energy (NYSE:ES) by 46.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,188 shares of the utilities provider’s stock after acquiring an additional 1,969 shares during the quarter. Cable Hill Partners LLC’s holdings in Eversource Energy were worth $355,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. State Street Corp raised its stake in Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after buying an additional 430,587 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Eversource Energy in the third quarter worth about $808,783,000. Geode Capital Management LLC raised its stake in shares of Eversource Energy by 3.1% in the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock worth $613,233,000 after purchasing an additional 268,588 shares during the last quarter. FMR LLC raised its stake in shares of Eversource Energy by 2.7% in the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock worth $477,647,000 after purchasing an additional 185,381 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eversource Energy by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock worth $337,270,000 after purchasing an additional 216,630 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Down 0.5 %

Shares of ES opened at $63.46 on Thursday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The stock’s 50 day moving average is $58.54 and its two-hundred day moving average is $62.49. The firm has a market cap of $23.28 billion, a P/E ratio of 27.47, a PEG ratio of 2.35 and a beta of 0.62.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.74%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Scotiabank reduced their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Barclays reduced their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, February 21st. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Wells Fargo & Company reduced their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $67.45.

Insider Buying and Selling at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

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.