Zurcher Kantonalbank Zurich Cantonalbank Purchases 12,951 Shares of Eversource Energy (NYSE:ES)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Eversource Energy (NYSE:ES) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 443,444 shares of the utilities provider’s stock after purchasing an additional 12,951 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.13% of Eversource Energy worth $27,369,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP raised its holdings in Eversource Energy by 275.0% during the 1st quarter. Quarry LP now owns 315 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 231 shares during the last quarter. Resurgent Financial Advisors LLC bought a new position in Eversource Energy during the 4th quarter worth approximately $27,000. Exchange Traded Concepts LLC bought a new position in Eversource Energy during the 4th quarter worth approximately $26,000. ICA Group Wealth Management LLC bought a new position in Eversource Energy during the 4th quarter worth approximately $53,000. Finally, UMB Bank n.a. raised its holdings in Eversource Energy by 130.9% during the 3rd 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. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Argus reduced 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 report on Monday, March 25th. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. BMO Capital Markets raised their price objective on shares of Eversource Energy from $63.00 to $64.00 and gave the stock a “market perform” rating in a research report on Thursday, February 15th. UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. Finally, The Goldman Sachs Group assumed coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.08.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, 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 directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

NYSE ES opened at $58.51 on Thursday. The company has a fifty day simple moving average of $58.40 and a 200 day simple moving average of $57.77. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $79.92. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The company has a market cap of $20.52 billion, a P/E ratio of -46.44, a PEG ratio of 3.04 and a beta of 0.58.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data 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). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter last year, the business posted $0.92 earnings per share. Eversource Energy’s revenue was down 11.1% on a year-over-year basis. Sell-side analysts predict that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a yield of 4.89%. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

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.