The Manufacturers Life Insurance Company Purchases 126,696 Shares of Eversource Energy (NYSE:ES)

The Manufacturers Life Insurance Company lifted its position in shares of Eversource Energy (NYSE:ESFree Report) by 19.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 779,315 shares of the utilities provider’s stock after purchasing an additional 126,696 shares during the period. The Manufacturers Life Insurance Company owned 0.22% of Eversource Energy worth $48,099,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Heritage Wealth Advisors bought a new position in shares of Eversource Energy during the fourth quarter worth approximately $25,000. Exchange Traded Concepts LLC bought a new position in shares of Eversource Energy during the fourth quarter worth approximately $26,000. Bfsg LLC bought a new position in shares of Eversource Energy during the fourth quarter worth approximately $31,000. Hexagon Capital Partners LLC increased its stake in shares of Eversource Energy by 84.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 272 shares during the period. Finally, CVA Family Office LLC bought a new position in shares of Eversource Energy during the fourth quarter worth approximately $43,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Down 2.2 %

Shares of ES opened at $59.48 on Thursday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a 50 day moving average price of $59.66 and a two-hundred day moving average price of $58.93. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $74.81.

Eversource Energy (NYSE:ESGet Free Report) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. Eversource Energy’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.41 earnings per share. On average, analysts forecast that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.81%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s dividend payout ratio is presently -242.37%.

Insider Activity

In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. The Goldman Sachs Group assumed coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target on the stock. StockNews.com raised Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Scotiabank reduced their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. Finally, Bank of America upped their price target on Eversource Energy from $50.00 to $61.00 and gave the company an “underperform” rating in a research report on Wednesday, May 15th. Two investment analysts have 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 MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $66.07.

Read Our Latest Research Report on Eversource Energy

Eversource Energy Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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