Moors & Cabot Inc. Sells 9,606 Shares of Eversource Energy (NYSE:ES)

Moors & Cabot Inc. decreased its position in Eversource Energy (NYSE:ES) by 20.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,636 shares of the utilities provider’s stock after selling 9,606 shares during the period. Moors & Cabot Inc.’s holdings in Eversource Energy were worth $2,078,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Eversource Energy by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after buying an additional 354,429 shares during the period. Magellan Asset Management Ltd increased its stake in shares of Eversource Energy by 5.4% in the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock valued at $189,301,000 after acquiring an additional 156,534 shares during the last quarter. ClearBridge Investments Ltd acquired a new stake in shares of Eversource Energy in the 1st quarter valued at approximately $156,093,000. Finally, Zimmer Partners LP boosted its stake in Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays upped their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. BMO Capital Markets dropped their price target on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research report on Monday, August 19th. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Morgan Stanley increased their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $68.93.

Insider Transactions at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Performance

Shares of ES stock opened at $68.23 on Wednesday. The stock has a market cap of $24.03 billion, a P/E ratio of -57.82, a P/E/G ratio of 2.59 and a beta of 0.61. The company has a fifty day moving average price of $65.16 and a two-hundred day moving average price of $61.17. Eversource Energy has a one year low of $52.03 and a one year high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.00 earnings per share. As a group, equities analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend is Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

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.