Eversource Energy (NYSE:ES) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in Eversource Energy (NYSE:ES) by 2.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 766,598 shares of the utilities provider’s stock after selling 16,629 shares during the period. New York State Common Retirement Fund’s holdings in Eversource Energy were worth $47,314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Exchange Traded Concepts LLC purchased a new stake in shares of Eversource Energy during the fourth quarter worth approximately $26,000. UMB Bank n.a. grew its holdings in Eversource Energy by 130.9% during the 3rd quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 364 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $43,000. MV Capital Management Inc. raised its holdings in shares of Eversource Energy by 40.4% in the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 206 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of 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 purchasing an additional 480 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

ES stock opened at $60.85 on Thursday. The company has a fifty day moving average price of $58.89 and a 200 day moving average price of $57.92. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the prior year, the firm posted $0.92 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. Equities research analysts anticipate that Eversource Energy will post 4.52 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a yield of 4.70%. Eversource Energy’s dividend payout ratio is currently -226.98%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ES. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price for the company. StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $72.00 in a research note on Monday, January 22nd. Finally, Barclays reduced their price objective on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.85.

Insiders Place Their Bets

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is owned by 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.