Eversource Energy (NYSE:ES) Shares Bought by MetLife Investment Management LLC

by · The Markets Daily

MetLife Investment Management LLC lifted its stake in shares of Eversource Energy (NYSE:ES – Free Report) by 4.3% during the fourth quarter, Holdings Channel reports. The fund owned 96,826 shares of the utilities provider’s stock after purchasing an additional 4,010 shares during the quarter. MetLife Investment Management LLC’s holdings in Eversource Energy were worth $5,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Exchange Traded Concepts LLC boosted its stake in shares of Eversource Energy by 10.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 176 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after buying an additional 197 shares during the period. Summit Trail Advisors LLC boosted its position in Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after acquiring an additional 216 shares during the last quarter. Keybank National Association OH grew its stake in Eversource Energy by 2.6% in the 4th quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after acquiring an additional 233 shares during the period. Finally, Whittier Trust Co. raised its holdings in Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock valued at $444,000 after acquiring an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Trading Down 0.1 %

Shares of ES opened at $57.97 on Thursday. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01. The stock’s 50-day moving average is $59.99 and its two-hundred day moving average is $60.38. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $21.28 billion, a PE ratio of 25.09, a P/E/G ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders 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 yield of 5.19%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is currently 130.30%.

Analyst Ratings Changes

A number of brokerages have recently commented on ES. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group decreased their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $65.78.

Get Our Latest Stock Analysis on Eversource Energy

Eversource Energy Profile

(Free Report)

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.

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