Commerce Bank Has $3.75 Million Stake in Eversource Energy (NYSE:ES)

Commerce Bank grew its holdings in Eversource Energy (NYSE:ES) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 65,320 shares of the utilities provider’s stock after purchasing an additional 2,604 shares during the period. Commerce Bank’s holdings in Eversource Energy were worth $3,751,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Exchange Traded Concepts LLC raised its position in Eversource Energy by 10.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after buying an additional 176 shares during the period. UMB Bank n.a. increased its holdings in shares of Eversource Energy by 38.4% in the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares during the period. Summit Trail Advisors LLC boosted its holdings in shares of Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after purchasing an additional 216 shares during the period. Keybank National Association OH boosted its holdings in shares of Eversource Energy by 2.6% during the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after purchasing an additional 233 shares during the period. Finally, Whittier Trust Co. grew its position in Eversource Energy by 3.3% during the fourth quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock valued at $444,000 after purchasing an additional 245 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ES has been the topic of several research analyst reports. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Scotiabank dropped their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Monday, April 14th. Wells Fargo & Company cut their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Finally, Jefferies Financial Group reduced their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $65.78.

Eversource Energy Price Performance

NYSE ES opened at $57.38 on Monday. The company has a market cap of $21.06 billion, a P/E ratio of 24.84, a P/E/G ratio of 2.35 and a beta of 0.58. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a fifty day simple moving average of $60.22 and a 200 day simple moving average of $60.48.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. On average, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were paid a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.25%. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

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.