iSAM Funds UK Ltd Reduces Stock Holdings in Eversource Energy (NYSE:ES)

iSAM Funds UK Ltd trimmed its position in Eversource Energy (NYSE:ES) by 22.4% during the 4th quarter, HoldingsChannel reports. The firm owned 8,981 shares of the utilities provider’s stock after selling 2,594 shares during the period. iSAM Funds UK Ltd’s holdings in Eversource Energy were worth $516,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ES. Mizuho Bank Ltd. purchased a new position in Eversource Energy in the fourth quarter worth about $26,000. Kestra Investment Management LLC purchased a new position in Eversource Energy in the fourth quarter worth about $29,000. Assetmark Inc. boosted its position in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Venturi Wealth Management LLC boosted its position in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Eversource Energy in the fourth quarter worth about $35,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Scotiabank dropped their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group lowered their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Finally, Wells Fargo & Company lowered their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.78.

Eversource Energy Stock Up 0.6%

Shares of ES opened at $63.56 on Tuesday. The business’s 50 day moving average is $59.66 and its 200 day moving average is $59.77. The company has a market capitalization of $23.35 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

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

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy’s payout ratio is 129.74%.

Insiders Place Their Bets

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The stock was 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. The trade was a 3.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy 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 directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

About Eversource Energy

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.