Van ECK Associates Corp Sells 2,521 Shares of Eversource Energy (NYSE:ES)

Van ECK Associates Corp trimmed its position in Eversource Energy (NYSE:ES) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,045 shares of the utilities provider’s stock after selling 2,521 shares during the quarter. Van ECK Associates Corp’s holdings in Eversource Energy were worth $4,879,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ES. Anchor Capital Advisors LLC increased its stake in Eversource Energy by 71.5% during the 4th quarter. Anchor Capital Advisors LLC now owns 805,171 shares of the utilities provider’s stock valued at $49,695,000 after purchasing an additional 335,775 shares in the last quarter. Russell Investments Group Ltd. increased its position in shares of Eversource Energy by 94.6% during the 4th quarter. Russell Investments Group Ltd. now owns 570,190 shares of the utilities provider’s stock worth $35,196,000 after purchasing an additional 277,132 shares during the last quarter. Syon Capital LLC purchased a new position in shares of Eversource Energy during the fourth quarter worth $467,000. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Eversource Energy by 8.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,721 shares of the utilities provider’s stock worth $538,000 after acquiring an additional 655 shares in the last quarter. Finally, Bfsg LLC acquired a new position in Eversource Energy during the 4th quarter worth approximately $31,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eversource Energy

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s 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 transaction, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated 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 directly owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Eversource Energy Stock Down 1.2 %

Shares of ES stock opened at $60.01 on Friday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.97. The firm’s 50 day moving average price is $59.17 and its two-hundred day moving average price is $58.10.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business posted $1.41 EPS. The business’s quarterly revenue was down 12.2% on a year-over-year basis. Research analysts predict that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.77%. Eversource Energy’s dividend payout ratio (DPR) is currently -242.37%.

Analysts Set New Price Targets

ES has been the topic of several recent analyst reports. Scotiabank dropped their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company boosted their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday. BMO Capital Markets raised their price objective on shares of Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday. Citigroup boosted their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. Finally, Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $60.00 to $72.00 in a research note on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.23.

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.