Kovitz Investment Group Partners LLC Acquires 470 Shares of Eversource Energy (NYSE:ES)

Kovitz Investment Group Partners LLC raised its holdings in shares of Eversource Energy (NYSE:ES) by 2.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,577 shares of the utilities provider’s stock after purchasing an additional 470 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Eversource Energy were worth $1,009,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP lifted its holdings in shares of Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock worth $945,893,000 after purchasing an additional 4,585,232 shares during the period. Norges Bank bought a new position in shares of Eversource Energy in the fourth quarter valued at approximately $188,838,000. Amundi boosted its stake in Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock valued at $367,691,000 after acquiring an additional 1,579,818 shares during the last quarter. Vanguard Group Inc. increased its holdings in Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after acquiring an additional 1,387,072 shares during the last quarter. Finally, Magellan Asset Management Ltd boosted its holdings in shares of Eversource Energy by 15.9% in the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider’s stock worth $371,829,000 after acquiring an additional 890,514 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insiders Place Their Bets

In other news, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $59.44 on Wednesday. The stock’s 50-day simple moving average is $59.71 and its 200-day simple moving average is $60.22. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The firm has a market capitalization of $21.82 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share 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%. As a group, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Analyst Ratings Changes

ES has been the subject of several research reports. Jefferies Financial Group cut 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 report on Tuesday, January 28th. Scotiabank dropped their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. BMO Capital Markets upped their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a report on Monday. Finally, StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $65.78.

Eversource Energy Company 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.