Baillie Gifford & Co. Increases Stock Position in Eversource Energy $ES

Baillie Gifford & Co. boosted its holdings in Eversource Energy (NYSE:ES) by 11.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,561 shares of the utilities provider’s stock after acquiring an additional 23,451 shares during the quarter. Baillie Gifford & Co.’s holdings in Eversource Energy were worth $15,833,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Eversource Energy by 7.9% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 419,251 shares of the utilities provider’s stock worth $26,673,000 after acquiring an additional 30,641 shares during the period. Hilltop National Bank purchased a new stake in Eversource Energy in the second quarter worth approximately $32,000. Advisors Asset Management Inc. grew its position in Eversource Energy by 31.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock worth $2,506,000 after purchasing an additional 9,350 shares during the period. Vanguard Group Inc. raised its stake in Eversource Energy by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock valued at $2,904,422,000 after buying an additional 691,165 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in shares of Eversource Energy during the 2nd quarter valued at $477,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Down 1.3%

Eversource Energy stock opened at $69.54 on Friday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The firm has a market capitalization of $26.09 billion, a price-to-earnings ratio of 19.05, a P/E/G ratio of 2.36 and a beta of 0.76. The firm has a 50 day moving average of $67.79 and a 200 day moving average of $68.08. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.13 earnings per share. As a group, research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.7525 per share. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 dividend on an annualized basis and a yield of 4.3%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Insider Activity at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on ES shares. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. UBS Group cut their price target on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Wells Fargo & Company downgraded shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $79.00 to $63.00 in a report on Wednesday, November 19th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.50.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.