Syon Capital LLC Invests $467,000 in Eversource Energy (NYSE:ES)

Syon Capital LLC bought a new stake in Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,561 shares of the utilities provider’s stock, valued at approximately $467,000.

Other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Eversource Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock worth $404,856,000 after purchasing an additional 134,492 shares during the period. Legal & General Group Plc grew its holdings in shares of Eversource Energy by 2.5% during the third quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock worth $385,457,000 after buying an additional 163,053 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Eversource Energy by 8.2% during the fourth quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock worth $388,509,000 after buying an additional 475,341 shares during the last quarter. Morgan Stanley increased its position in Eversource Energy by 19.3% in the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after acquiring an additional 723,318 shares during the period. Finally, Northern Trust Corp raised its stake in Eversource Energy by 2.7% during the 3rd quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock valued at $246,409,000 after acquiring an additional 111,294 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 1.8 %

Shares of NYSE:ES opened at $59.44 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The business’s 50 day simple moving average is $58.94 and its 200-day simple moving average is $57.95. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $78.64.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. Equities analysts anticipate that Eversource Energy will post 4.51 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.81%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $60.00 to $72.00 in a report on Monday, January 22nd. Citigroup upped their price objective on shares of Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th. The Goldman Sachs Group began coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price on the stock. Barclays cut their price target on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, January 22nd. Finally, BMO Capital Markets raised their price objective on shares of Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $65.85.

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.