Parkside Financial Bank & Trust Acquires 375 Shares of Eversource Energy (NYSE:ES)

Parkside Financial Bank & Trust lifted its holdings in Eversource Energy (NYSE:ES) by 33.2% in the fourth quarter, Holdings Channel reports. The fund owned 1,506 shares of the utilities provider’s stock after purchasing an additional 375 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Eversource Energy were worth $93,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in ES. Exchange Traded Concepts LLC bought a new stake in Eversource Energy in the fourth quarter worth about $26,000. UMB Bank n.a. lifted its stake in Eversource Energy by 130.9% in the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 364 shares during the last quarter. MV Capital Management Inc. lifted its stake in Eversource Energy by 40.4% in the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 206 shares during the last quarter. CVA Family Office LLC bought a new stake in Eversource Energy in the fourth quarter worth about $43,000. Finally, Blue Trust Inc. lifted its stake in Eversource Energy by 172.7% in the fourth quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 480 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

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

Eversource Energy Stock Performance

Shares of ES stock opened at $60.52 on Friday. The firm has a market cap of $21.23 billion, a price-to-earnings ratio of -48.03, a PEG ratio of 3.24 and a beta of 0.58. The company’s 50 day moving average is $58.92 and its 200 day moving average is $57.94. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $79.43.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. Eversource Energy’s revenue was down 11.1% on a year-over-year basis. During the same quarter last year, the business earned $0.92 earnings per share. On average, sell-side analysts anticipate that Eversource Energy will post 4.51 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.73%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ES. Argus decreased their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Citigroup raised their target price 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. Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $60.00 to $72.00 in a research report on Monday, January 22nd. Finally, UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $65.85.

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.