Anchor Capital Advisors LLC Lowers Stock Holdings in Eversource Energy (NYSE:ES)

Anchor Capital Advisors LLC lessened its position in Eversource Energy (NYSE:ES) by 8.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 709,373 shares of the utilities provider’s stock after selling 62,896 shares during the quarter. Eversource Energy accounts for approximately 1.2% of Anchor Capital Advisors LLC’s portfolio, making the stock its 28th biggest position. Anchor Capital Advisors LLC’s holdings in Eversource Energy were worth $40,739,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its position in Eversource Energy by 1.7% in the 3rd 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 period. Wellington Management Group LLP purchased a new position in Eversource Energy in the third quarter valued at $808,783,000. Geode Capital Management LLC grew its stake in Eversource Energy by 3.1% during the 3rd 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 in the last quarter. FMR LLC increased its holdings in Eversource Energy by 2.7% during the 3rd 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Eversource Energy by 4.6% during the 3rd 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 period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE ES opened at $62.53 on Friday. The company has a fifty day moving average of $58.67 and a two-hundred day moving average of $62.49. The company has a market capitalization of $22.94 billion, a PE ratio of 27.07, a P/E/G ratio of 2.35 and a beta of 0.62. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.81%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s payout ratio is presently 130.30%.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This trade 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 insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Wells Fargo & Company decreased their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Scotiabank dropped their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Finally, Jefferies Financial Group lowered their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Two analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $67.45.

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.