Nemes Rush Group LLC Raises Position in Eversource Energy (NYSE:ES)

Nemes Rush Group LLC boosted its position in shares of Eversource Energy (NYSE:ES) by 816.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,200 shares of the utilities provider’s stock after buying an additional 1,069 shares during the period. Nemes Rush Group LLC’s holdings in Eversource Energy were worth $69,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at about $29,000. Assetmark Inc. lifted its stake in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. OFI Invest Asset Management purchased a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $35,000. Finally, UMB Bank n.a. increased its holdings in shares of Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Up 1.0 %

Shares of NYSE ES opened at $62.68 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average is $60.58 and its two-hundred day moving average is $61.46. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The firm has a market cap of $23.01 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) 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%. Research analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were issued a $0.7525 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.80%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is 130.30%.

Insider Buying and Selling

In other news, VP Jay S. Buth sold 980 shares of Eversource Energy 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction that occurred on 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 owns 22,671 shares in the company, valued at $1,411,496.46. The trade was 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 owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays lowered their price objective on 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. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, March 29th. Scotiabank reduced their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group dropped their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company reduced their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.40.

About Eversource Energy

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.