Cullen Frost Bankers Inc. Acquires 1,431 Shares of Eversource Energy (NYSE:ES)

Cullen Frost Bankers Inc. increased its holdings in Eversource Energy (NYSE:ES) by 2,271.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,494 shares of the utilities provider’s stock after acquiring an additional 1,431 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Eversource Energy were worth $86,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Eversource Energy during the third quarter valued at $31,000. Ashton Thomas Securities LLC bought a new position in Eversource Energy in the 3rd quarter worth about $32,000. Kestra Investment Management LLC purchased a new stake in Eversource Energy during the 4th quarter valued at about $29,000. Assetmark Inc. raised its holdings in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Eversource Energy by 162.0% in 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. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Up 3.8 %

Shares of ES stock opened at $60.97 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The stock has a market cap of $22.36 billion, a P/E ratio of 26.39, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a 50 day simple moving average of $59.09 and a two-hundred day simple moving average of $62.23.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS 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%. On average, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s payout ratio is presently 130.30%.

Insider Activity at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of the company’s 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 transaction, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This 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.

Analysts Set New Price Targets

A number of research firms have recently commented on ES. Scotiabank cut their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Barclays lowered their price target on 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 downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average price target of $67.45.

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.