Stoneridge Investment Partners LLC Takes $1.62 Million Position in Eversource Energy (NYSE:ES)

Stoneridge Investment Partners LLC bought a new stake in Eversource Energy (NYSE:ES) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 28,134 shares of the utilities provider’s stock, valued at approximately $1,616,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ES. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the third quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy in the third quarter valued at about $32,000. UMB Bank n.a. boosted its holdings in shares of Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares in the last quarter. Finally, Asset Dedication LLC purchased a new stake in Eversource Energy during the fourth quarter worth about $41,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $59.42 on Friday. The firm has a 50 day simple moving average of $57.99 and a 200-day simple moving average of $62.73. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a 1-year low of $52.71 and a 1-year high of $69.01.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 5.07%. Eversource Energy’s dividend payout ratio is -182.17%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Barclays decreased their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price objective for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Finally, BMO Capital Markets decreased their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $67.42.

Eversource Energy 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.