Elkhorn Investments LLC lowered its position in Eversource Energy (NYSE:ES) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,430 shares of the utilities provider’s stock after selling 1,130 shares during the period. Elkhorn Investments LLC’s holdings in Eversource Energy were worth $1,196,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Teachers Advisors LLC raised its stake in shares of Eversource Energy by 1.6% in the fourth quarter. Teachers Advisors LLC now owns 674,970 shares of the utilities provider’s stock valued at $42,645,000 after acquiring an additional 10,815 shares during the last quarter. Paloma Partners Management Co raised its position in Eversource Energy by 363.0% in the 4th quarter. Paloma Partners Management Co now owns 34,727 shares of the utilities provider’s stock worth $2,194,000 after purchasing an additional 27,227 shares during the last quarter. Raymond James & Associates raised its position in Eversource Energy by 1.5% in the 4th quarter. Raymond James & Associates now owns 103,989 shares of the utilities provider’s stock worth $6,570,000 after purchasing an additional 1,511 shares during the last quarter. Luminus Management LLC bought a new position in Eversource Energy in the 4th quarter worth approximately $255,000. Finally, California State Teachers Retirement System raised its position in Eversource Energy by 7.7% in the 4th quarter. California State Teachers Retirement System now owns 659,593 shares of the utilities provider’s stock worth $41,673,000 after purchasing an additional 46,973 shares during the last quarter. Institutional investors own 73.85% of the company’s stock.
Eversource Energy (ES) traded up $0.75 on Wednesday, reaching $57.43. 79,409 shares of the company’s stock were exchanged, compared to its average volume of 2,713,925. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Eversource Energy has a 12-month low of $55.93 and a 12-month high of $66.15. The firm has a market cap of $18,081.50, a price-to-earnings ratio of 18.23, a PEG ratio of 3.04 and a beta of 0.37.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 6th will be issued a dividend of $0.505 per share. This represents a $2.02 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Monday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. Eversource Energy’s payout ratio is currently 64.95%.
ES has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Tuesday, January 2nd. Credit Suisse Group cut shares of Eversource Energy from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $63.00 to $59.00 in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Guggenheim restated a “buy” rating and issued a $59.00 price objective on shares of Eversource Energy in a research report on Friday, February 23rd. Williams Capital restated a “buy” rating and issued a $63.00 price objective (down previously from $65.00) on shares of Eversource Energy in a research report on Thursday, March 1st. Finally, Evercore ISI initiated coverage on shares of Eversource Energy in a research report on Thursday, March 8th. They issued an “outperform” rating and a $62.00 price objective for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $62.82.
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Eversource Energy Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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