Howland Capital Management LLC Cuts Holdings in Eversource Energy (NYSE:ES)

Howland Capital Management LLC trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 94.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 5,855 shares of the utilities provider’s stock after selling 92,612 shares during the quarter. Howland Capital Management LLC’s holdings in Eversource Energy were worth $350,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ES. Norges Bank purchased a new position in Eversource Energy during the fourth quarter valued at $149,906,000. Morgan Stanley lifted its position in Eversource Energy by 19.3% during 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. American Century Companies Inc. lifted its position in Eversource Energy by 23.7% during the third quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock valued at $213,005,000 after purchasing an additional 702,360 shares in the last quarter. Clean Energy Transition LLP purchased a new position in Eversource Energy during the fourth quarter valued at $40,181,000. Finally, Jennison Associates LLC bought a new stake in Eversource Energy during the first quarter valued at about $35,983,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Eversource Energy Stock Up 0.5 %

Shares of Eversource Energy stock traded up $0.27 during trading on Friday, reaching $59.67. The company’s stock had a trading volume of 8,230 shares, compared to its average volume of 2,545,769. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The company has a market cap of $21.02 billion, a price-to-earnings ratio of -50.34, a P/E/G ratio of 2.24 and a beta of 0.59. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $74.81. The company has a 50-day simple moving average of $58.80 and a two-hundred day simple moving average of $58.47.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm posted $1.41 EPS. The firm’s revenue was down 12.2% compared to the same quarter last year. As a group, equities analysts forecast that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, May 16th were given a dividend of $0.715 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.79%. Eversource Energy’s dividend payout ratio is currently -242.37%.

Analyst Upgrades and Downgrades

ES has been the topic of several research reports. StockNews.com raised Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Morgan Stanley lowered their price objective on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Wells Fargo & Company raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, Argus reduced their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $65.86.

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.