Simplicity Solutions LLC Acquires 443 Shares of Eversource Energy (NYSE:ES)

Simplicity Solutions LLC boosted its holdings in shares of Eversource Energy (NYSE:ES) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,651 shares of the utilities provider’s stock after purchasing an additional 443 shares during the period. Simplicity Solutions LLC’s holdings in Eversource Energy were worth $411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in shares of Eversource Energy by 10.8% in the 3rd quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider’s stock worth $26,168,000 after purchasing an additional 43,720 shares during the last quarter. OLD Republic International Corp acquired a new stake in shares of Eversource Energy during the third quarter worth approximately $27,283,000. Cerity Partners LLC raised its stake in shares of Eversource Energy by 536.0% in the fourth quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider’s stock valued at $7,298,000 after acquiring an additional 99,652 shares during the last quarter. Natixis Advisors L.P. boosted its holdings in shares of Eversource Energy by 11.2% in the 3rd quarter. Natixis Advisors L.P. now owns 172,017 shares of the utilities provider’s stock worth $10,003,000 after acquiring an additional 17,345 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in Eversource Energy by 14.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 127,034 shares of the utilities provider’s stock worth $7,859,000 after acquiring an additional 15,770 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on ES. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Argus reduced their price target on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Barclays lowered their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Finally, Citigroup raised their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $66.08.

Insider Transactions at Eversource Energy

In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following 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 is available at this hyperlink. In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the transaction, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Eversource Energy Trading Up 1.2 %

Shares of ES opened at $59.69 on Friday. The stock’s 50-day moving average price is $58.60 and its two-hundred day moving average price is $57.81. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $79.92.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. Equities analysts expect that Eversource Energy will post 4.52 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.79%. The ex-dividend date was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio is -226.98%.

Eversource Energy Company 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.