Syon Capital LLC Invests $467,000 in Eversource Energy (NYSE:ES)

Syon Capital LLC acquired a new stake in shares of Eversource Energy (NYSE:ES) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,561 shares of the utilities provider’s stock, valued at approximately $467,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ES. Charles Schwab Investment Management Inc. raised its stake in shares of Eversource Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock worth $404,856,000 after purchasing an additional 134,492 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Eversource Energy by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock valued at $385,457,000 after buying an additional 163,053 shares in the last quarter. Nordea Investment Management AB increased its holdings in Eversource Energy by 8.2% in the fourth quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock worth $388,509,000 after buying an additional 475,341 shares during the last quarter. Morgan Stanley raised its position in Eversource Energy by 19.3% during the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after acquiring an additional 723,318 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Eversource Energy by 2.7% in the third quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock valued at $246,409,000 after acquiring an additional 111,294 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Activity

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

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $59.44 on Friday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The business has a 50 day moving average price of $58.94 and a 200 day moving average price of $57.95. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $78.64.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the company posted $0.92 earnings per share. The firm’s revenue was down 11.1% compared to the same quarter last year. As a group, equities analysts predict that Eversource Energy will post 4.51 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.715 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.86 annualized dividend and a dividend yield of 4.81%. Eversource Energy’s payout ratio is presently -226.98%.

Analyst Ratings Changes

Several research analysts have recently commented on ES shares. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. Scotiabank lowered their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $67.00 in a report on Thursday, April 4th. Citigroup upped their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $54.00 to $62.00 in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $65.85.

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.