Assetmark Inc. Purchases 61,298 Shares of Eversource Energy $ES

Assetmark Inc. grew its position in shares of Eversource Energy (NYSE:ES) by 12,717.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,780 shares of the utilities provider’s stock after buying an additional 61,298 shares during the period. Assetmark Inc.’s holdings in Eversource Energy were worth $3,930,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its position in shares of Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock worth $369,000 after purchasing an additional 277 shares during the period. Hilltop National Bank bought a new position in Eversource Energy in the second quarter valued at about $32,000. Truist Financial Corp grew its position in Eversource Energy by 60.7% in the second quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider’s stock valued at $2,207,000 after acquiring an additional 13,112 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in Eversource Energy by 1.0% in the second quarter. Public Employees Retirement System of Ohio now owns 114,068 shares of the utilities provider’s stock valued at $7,257,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Arvest Investments Inc. grew its position in Eversource Energy by 67.0% in the second quarter. Arvest Investments Inc. now owns 25,114 shares of the utilities provider’s stock valued at $1,598,000 after acquiring an additional 10,079 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $74.28 on Tuesday. The stock has a market cap of $27.57 billion, a P/E ratio of 31.88, a price-to-earnings-growth ratio of 2.65 and a beta of 0.69. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The stock’s 50-day moving average is $69.13 and its 200-day moving average is $65.67. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s payout ratio is 129.18%.

Analyst Upgrades and Downgrades

ES has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday. Mizuho lifted their target price on Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research report on Monday, October 27th. Jefferies Financial Group lifted their target price on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Finally, TD Cowen assumed coverage on Eversource Energy in a research report on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price on the stock. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $70.56.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.19% of the company’s stock.

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.