Gabelli Funds LLC maintained its position in shares of Eversource Energy (NYSE:ES) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,168,208 shares of the company’s stock at the end of the fourth quarter. Gabelli Funds LLC’s holdings in Eversource Energy were worth $64,520,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in ES. LNZ Capital LP acquired a new position in Eversource Energy during the third quarter valued at $87,386,000. The Manufacturers Life Insurance Company acquired a new position in Eversource Energy during the third quarter valued at $63,940,000. American Century Companies Inc. acquired a new position in Eversource Energy during the second quarter valued at $62,821,000. Cohen & Steers Inc. raised its position in Eversource Energy by 81.5% in the second quarter. Cohen & Steers Inc. now owns 2,220,976 shares of the company’s stock valued at $93,597,000 after buying an additional 997,331 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in Eversource Energy by 211.4% in the second quarter. Adage Capital Partners GP L.L.C. now owns 1,460,239 shares of the company’s stock valued at $87,468,000 after buying an additional 991,300 shares during the period. 70.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Eversource Energy (NYSE:ES) traded down 0.96% during trading on Tuesday, hitting $55.95. The stock had a trading volume of 1,048,944 shares. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $60.44. The firm has a market cap of $17.73 billion, a PE ratio of 19.91 and a beta of 0.32. The stock has a 50 day moving average of $55.22 and a 200 day moving average of $54.50.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 2nd will be issued a $0.475 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.45. This represents a $1.90 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend is Tuesday, February 28th. Eversource Energy’s payout ratio is currently 63.35%.
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A number of analysts recently commented on ES shares. Credit Suisse Group started coverage on Eversource Energy in a research report on Wednesday, January 25th. They issued a “neutral” rating and a $57.00 target price for the company. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Thursday, December 29th. Finally, Deutsche Bank AG raised Eversource Energy from a “hold” rating to a “buy” rating and set a $59.00 target price for the company in a research report on Tuesday, December 20th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Eversource Energy presently has a consensus rating of “Buy” and an average target price of $59.75.
In other news, insider Thomas J. May sold 40,000 shares of the business’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $54.79, for a total value of $2,191,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James J. Judge sold 90,000 shares of the business’s stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $56.00, for a total transaction of $5,040,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 450,000 shares of company stock worth $24,615,600. 0.89% of the stock is currently owned by insiders.
Eversource Energy Company Profile
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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