Vanguard Group Inc. Trims Position in Eversource Energy (NYSE:ES)

Vanguard Group Inc. trimmed its position in Eversource Energy (NYSE:ES) by 7.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 41,970,809 shares of the utilities provider’s stock after selling 3,493,736 shares during the period. Vanguard Group Inc. owned about 0.12% of Eversource Energy worth $2,508,595,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Heritage Wealth Advisors purchased a new position in Eversource Energy during the fourth quarter worth about $25,000. Exchange Traded Concepts LLC purchased a new position in shares of Eversource Energy during the fourth quarter worth about $26,000. Rise Advisors LLC bought a new position in shares of Eversource Energy in the first quarter worth approximately $27,000. Bfsg LLC purchased a new stake in Eversource Energy in the fourth quarter valued at approximately $31,000. Finally, Versant Capital Management Inc lifted its position in Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Down 0.5 %

Shares of NYSE:ES traded down $0.29 during trading on Friday, reaching $61.10. 1,696,087 shares of the company traded hands, compared to its average volume of 1,880,098. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81. The business’s fifty day moving average is $58.76 and its 200-day moving average is $58.40. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of -51.78, a P/E/G ratio of 2.35 and a beta of 0.59.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the company posted $1.41 EPS. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. As a group, analysts forecast that Eversource Energy will post 4.55 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 16th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.68%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Analysts Set New Price Targets

A number of brokerages have recently commented on ES. Scotiabank decreased their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday. The Goldman Sachs Group began coverage on Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. Morgan Stanley reduced their price objective on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Finally, Argus dropped their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.86.

Insider Activity at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the sale, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

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.