Deutsche Bank AG Trims Stock Position in Eversource Energy (NYSE:ES)

Deutsche Bank AG reduced its stake in Eversource Energy (NYSE:ES) by 37.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,581,521 shares of the utilities provider’s stock after selling 947,091 shares during the quarter. Deutsche Bank AG’s holdings in Eversource Energy were worth $90,827,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of ES. Exchange Traded Concepts LLC grew its stake in Eversource Energy by 10.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. grew its position in shares of Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares during the period. Summit Trail Advisors LLC grew its position in shares of Eversource Energy by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 216 shares during the period. Keybank National Association OH increased its stake in Eversource Energy by 2.6% in the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock valued at $522,000 after purchasing an additional 233 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in Eversource Energy by 3.3% during the fourth quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock worth $444,000 after buying an additional 245 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Guggenheim restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. BMO Capital Markets boosted their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a report on Monday, April 28th. Jefferies Financial Group cut their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, Scotiabank dropped their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $65.78.

Insider Activity

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

ES opened at $62.97 on Monday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The company has a 50 day moving average of $59.35 and a two-hundred day moving average of $59.88. The company has a market cap of $23.13 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The firm had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the prior year, the company earned $1.49 EPS. The firm’s revenue was up 23.6% on a year-over-year basis. On average, analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.78%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s payout ratio is 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.