Headlands Technologies LLC Invests $134,000 in Eversource Energy (NYSE:ES)

Headlands Technologies LLC bought a new position in Eversource Energy (NYSE:ES) during the fourth quarter, HoldingsChannel reports. The fund bought 2,326 shares of the utilities provider’s stock, valued at approximately $134,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Eversource Energy by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock valued at $2,306,000 after buying an additional 9,981 shares in the last quarter. Verity & Verity LLC bought a new stake in Eversource Energy during the 4th quarter worth approximately $744,000. Nordea Investment Management AB lifted its holdings in Eversource Energy by 41.7% during the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after purchasing an additional 510,582 shares in the last quarter. Everett Harris & Co. CA boosted its position in shares of Eversource Energy by 125.2% in the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after purchasing an additional 4,500 shares during the period. Finally, Soltis Investment Advisors LLC purchased a new stake in shares of Eversource Energy in the third quarter worth $3,616,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $58.48 on Friday. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The stock’s fifty day moving average price is $60.73 and its 200-day moving average price is $61.35. The firm has a market cap of $21.47 billion, a P/E ratio of 25.31, a P/E/G 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.

Eversource Energy (NYSE:ES) last announced its quarterly 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 net margin of 6.82% and a return on equity of 10.99%. On average, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. The ex-dividend date was Tuesday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.15%. Eversource Energy’s dividend payout ratio (DPR) is currently 130.30%.

Insider Buying and Selling

In related news, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction 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. The trade was a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ES. Barclays dropped their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Scotiabank reduced 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. Wells Fargo & Company reduced their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Sunday. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average price target of $67.44.

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.