Duff & Phelps Investment Management Co. Has $56.59 Million Stock Position in Eversource Energy (NYSE:ES)

Duff & Phelps Investment Management Co. grew its stake in shares of Eversource Energy (NYSE:ES) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 916,825 shares of the utilities provider’s stock after acquiring an additional 165,685 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Eversource Energy were worth $56,586,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ES. Exchange Traded Concepts LLC bought a new position in Eversource Energy during the fourth quarter worth about $26,000. Bfsg LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $31,000. UMB Bank n.a. boosted its stake in shares of Eversource Energy by 130.9% in the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after buying an additional 364 shares during the period. CVA Family Office LLC acquired a new stake in Eversource Energy during the fourth quarter worth approximately $43,000. Finally, MV Capital Management Inc. raised its holdings in Eversource Energy by 40.4% in the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Activity

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the 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 completion of the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction 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 transaction, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were 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 in the company, valued at $609,388.20. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com upgraded Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. The Goldman Sachs Group assumed coverage on Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price on the stock. Finally, Citigroup boosted their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.85.

Eversource Energy Stock Performance

Eversource Energy stock traded up $0.13 during trading hours on Tuesday, hitting $60.59. The stock had a trading volume of 461,097 shares, compared to its average volume of 2,862,077. 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 $58.97 and its 200-day simple moving average is $57.99. Eversource Energy has a one year low of $52.03 and a one year high of $78.64.

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

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date was Monday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s payout ratio is -226.98%.

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.