Bryce Point Capital LLC Acquires New Stake in Eversource Energy (NYSE:ES)

Bryce Point Capital LLC acquired a new position in shares of Eversource Energy (NYSE:ES) in the fourth quarter, HoldingsChannel reports. The firm acquired 8,656 shares of the utilities provider’s stock, valued at approximately $497,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after buying an additional 1,387,072 shares in the last quarter. State Street Corp grew its stake 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 worth $1,737,990,000 after acquiring an additional 430,587 shares during the period. Wellington Management Group LLP raised its holdings in Eversource Energy by 38.6% in the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock valued at $945,893,000 after acquiring an additional 4,585,232 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Eversource Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock worth $570,500,000 after purchasing an additional 226,972 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Eversource Energy by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider’s stock worth $547,550,000 after purchasing an additional 517,042 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction dated 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 transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the topic of a number of research analyst reports. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Scotiabank lowered their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Barclays cut their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Wells Fargo & Company lowered their price objective 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. Finally, StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.40.

Eversource Energy Stock Performance

NYSE:ES opened at $61.81 on Friday. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The firm has a market capitalization of $22.69 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.35 and a beta of 0.58. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm’s fifty day simple moving average is $60.69 and its 200 day simple moving average is $61.47.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping 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%. As a group, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.7525 per share. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.87%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is currently 130.30%.

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.