Eversource Energy (NYSE:ES) Shares Bought by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC boosted its holdings in shares of Eversource Energy (NYSE:ES) by 41.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,558 shares of the utilities provider’s stock after buying an additional 27,226 shares during the period. Eversource Energy makes up 2.2% of Morgan Dempsey Capital Management LLC’s holdings, making the stock its 26th largest position. Morgan Dempsey Capital Management LLC’s holdings in Eversource Energy were worth $5,373,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp increased its position in Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after buying an additional 430,587 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Eversource Energy in the third quarter valued at about $808,783,000. Geode Capital Management LLC increased its holdings in shares of Eversource Energy by 3.1% in the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after purchasing an additional 268,588 shares during the period. FMR LLC increased its holdings in shares of Eversource Energy by 2.7% in the third quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after purchasing an additional 185,381 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eversource Energy by 4.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,956,214 shares of the utilities provider’s stock valued at $337,270,000 after purchasing an additional 216,630 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES stock opened at $63.01 on Friday. The company has a market capitalization of $23.11 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.35 and a beta of 0.62. The business’s 50 day moving average is $58.80 and its two-hundred day moving average is $62.45. 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.

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

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.78%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is currently 130.30%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Scotiabank cut their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Barclays cut their price objective 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. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group cut their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $67.45.

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.