Mutual of America Capital Management LLC Lowers Holdings in Eversource Energy (NYSE:ES)

Mutual of America Capital Management LLC trimmed its holdings in Eversource Energy (NYSE:ES) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,733 shares of the utilities provider’s stock after selling 2,106 shares during the period. Mutual of America Capital Management LLC’s holdings in Eversource Energy were worth $2,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in ES. Quarry LP increased its holdings in shares of Eversource Energy by 275.0% in the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 231 shares during the last quarter. Resurgent Financial Advisors LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $27,000. Exchange Traded Concepts LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $26,000. ICA Group Wealth Management LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $53,000. Finally, UMB Bank n.a. increased its holdings in shares of Eversource Energy by 130.9% in the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 364 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Trading Up 0.8 %

ES opened at $58.99 on Friday. The stock has a market cap of $20.69 billion, a price-to-earnings ratio of -46.82, a P/E/G ratio of 3.04 and a beta of 0.58. The stock’s 50 day moving average price is $58.50 and its 200-day moving average price is $57.78. Eversource Energy has a one year low of $52.03 and a one year high of $79.92. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67.

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

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were issued a $0.715 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.85%. Eversource Energy’s payout ratio is presently -226.98%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company lifted their target price on Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Barclays reduced their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. BMO Capital Markets boosted their price objective on Eversource Energy from $63.00 to $64.00 and gave the stock a “market perform” rating in a research note on Thursday, February 15th. Finally, Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $66.08.

Insider Activity at Eversource Energy

In related 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 completion of the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction 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 sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Eversource Energy 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.