Eversource Energy (NYSE:ES) Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC reduced its stake in Eversource Energy (NYSE:ES) by 6.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,675 shares of the utilities provider’s stock after selling 426 shares during the period. NewEdge Wealth LLC’s holdings in Eversource Energy were worth $412,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Moneta Group Investment Advisors LLC lifted its stake in Eversource Energy by 101,201.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock worth $1,057,818,000 after acquiring an additional 12,604,649 shares in the last quarter. Norges Bank purchased a new stake in Eversource Energy during the fourth quarter worth about $274,262,000. Balyasny Asset Management L.P. lifted its position in shares of Eversource Energy by 4,397.4% during the first quarter. Balyasny Asset Management L.P. now owns 1,072,762 shares of the utilities provider’s stock worth $83,954,000 after purchasing an additional 1,048,909 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Eversource Energy by 64.0% in the second quarter. Goldman Sachs Group Inc. now owns 2,285,636 shares of the utilities provider’s stock valued at $193,067,000 after purchasing an additional 891,641 shares during the period. Finally, Morgan Stanley grew its holdings in shares of Eversource Energy by 19.3% in the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after purchasing an additional 723,318 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ES. BMO Capital Markets raised their price target on shares of Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Citigroup upped their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. Finally, Argus decreased their price target on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.08.

Insider Transactions at Eversource Energy

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

Eversource Energy Trading Up 2.3 %

NYSE ES opened at $58.51 on Thursday. The firm’s fifty day moving average price is $58.40 and its 200 day moving average price is $57.77. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The company has a market capitalization of $20.52 billion, a price-to-earnings ratio of -46.44, a price-to-earnings-growth ratio of 3.04 and a beta of 0.58.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the business posted $0.92 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a $0.715 dividend. The ex-dividend date was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a yield of 4.89%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s payout ratio is currently -226.98%.

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.