Assetmark Inc. Has $3.93 Million Stock Position in Eversource Energy $ES

Assetmark Inc. increased its stake in Eversource Energy (NYSE:ES) by 12,717.4% during the second quarter, Holdings Channel.com reports. The fund owned 61,780 shares of the utilities provider’s stock after buying an additional 61,298 shares during the period. Assetmark Inc.’s holdings in Eversource Energy were worth $3,930,000 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 the stock. Hantz Financial Services Inc. lifted its stake in shares of Eversource Energy by 17.9% in the second quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock worth $82,000 after acquiring an additional 195 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of Eversource Energy by 2.3% during the second quarter. Arkadios Wealth Advisors now owns 15,178 shares of the utilities provider’s stock valued at $966,000 after acquiring an additional 343 shares in the last quarter. Howard Capital Management Inc. increased its holdings in shares of Eversource Energy by 11.0% during the second quarter. Howard Capital Management Inc. now owns 8,693 shares of the utilities provider’s stock valued at $553,000 after acquiring an additional 863 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Eversource Energy by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 55,715 shares of the utilities provider’s stock valued at $3,545,000 after acquiring an additional 2,233 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in shares of Eversource Energy by 301.8% during the second quarter. Y Intercept Hong Kong Ltd now owns 42,179 shares of the utilities provider’s stock valued at $2,683,000 after acquiring an additional 31,682 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Eversource Energy Price Performance

ES opened at $74.28 on Tuesday. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The stock’s 50 day simple moving average is $69.13 and its 200 day simple moving average is $65.67. The firm has a market cap of $27.57 billion, a price-to-earnings ratio of 31.88, a PEG ratio of 2.65 and a beta of 0.69.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is presently 129.18%.

Analysts Set New Price Targets

ES has been the subject of several recent research reports. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday. Jefferies Financial Group upped their price target on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company started coverage on Eversource Energy in a report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.56.

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.