Mercer Global Advisors Inc. ADV Cuts Stake in Eversource Energy (NYSE:ES)

Mercer Global Advisors Inc. ADV decreased its stake in Eversource Energy (NYSE:ES) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,621 shares of the utilities provider’s stock after selling 1,066 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Eversource Energy were worth $2,161,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Mizuho Bank Ltd. purchased a new position in Eversource Energy in the 4th quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in shares of Eversource Energy during the fourth quarter worth $29,000. Assetmark Inc. boosted its stake in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Venturi Wealth Management LLC grew its holdings in Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 301 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in Eversource Energy during the 4th quarter worth $35,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity

In related news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ES shares. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Barclays cut their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Scotiabank cut their target price on 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. Finally, Guggenheim restated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $65.78.

Eversource Energy Price Performance

ES opened at $62.26 on Thursday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $22.85 billion, a P/E ratio of 26.95, a PEG ratio of 2.35 and a beta of 0.61. The stock has a fifty day moving average of $59.29 and a 200-day moving average of $60.02.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. The company had revenue of $4.12 billion for the quarter, compared to analysts’ expectations of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.49 EPS. Equities analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is currently 129.74%.

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.