Eversource Energy (NYSE:ES) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its position in Eversource Energy (NYSE:ES) by 16.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,836 shares of the utilities provider’s stock after selling 10,159 shares during the period. Advisors Asset Management Inc.’s holdings in Eversource Energy were worth $3,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. HB Wealth Management LLC grew its holdings in shares of Eversource Energy by 38.7% in the 4th quarter. HB Wealth Management LLC now owns 6,027 shares of the utilities provider’s stock worth $372,000 after acquiring an additional 1,682 shares during the period. CVA Family Office LLC purchased a new position in shares of Eversource Energy in the fourth quarter valued at $43,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of Eversource Energy by 1.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 157,797 shares of the utilities provider’s stock worth $9,739,000 after buying an additional 2,914 shares during the last quarter. Trueblood Wealth Management LLC purchased a new stake in shares of Eversource Energy in the 4th quarter worth about $303,000. Finally, Blue Trust Inc. grew its stake in Eversource Energy by 172.7% in the 4th quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 480 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Morgan Stanley reduced their price target on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, July 19th. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research report on Tuesday, June 25th. Finally, BMO Capital Markets upped their target price on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.43.

Eversource Energy Stock Up 1.4 %

Shares of ES traded up $0.90 during midday trading on Friday, hitting $64.50. The company had a trading volume of 3,093,333 shares, compared to its average volume of 2,527,364. The stock has a market cap of $22.72 billion, a price-to-earnings ratio of -53.90, a PEG ratio of 2.41 and a beta of 0.59. The company’s 50 day moving average price is $58.86 and its 200 day moving average price is $58.41. The company has a quick ratio of 0.68, a current ratio of 0.77 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 $73.87.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data 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 positive return on equity of 10.32% and a negative net margin of 3.60%. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company earned $1.41 earnings per share. Eversource Energy’s quarterly revenue was down 12.2% on a year-over-year basis. On average, equities research analysts predict that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were given a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.43%. Eversource Energy’s payout ratio is currently -242.37%.

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.