Eversource Energy $ES Shares Sold by Vest Financial LLC

Vest Financial LLC trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 10.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 825,663 shares of the utilities provider’s stock after selling 95,937 shares during the quarter. Vest Financial LLC’s holdings in Eversource Energy were worth $58,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. United Asset Strategies Inc. lifted its position in Eversource Energy by 1.0% during the third quarter. United Asset Strategies Inc. now owns 13,288 shares of the utilities provider’s stock valued at $945,000 after purchasing an additional 138 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in shares of Eversource Energy by 3.3% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock valued at $360,000 after buying an additional 162 shares during the period. PDS Planning Inc grew its holdings in Eversource Energy by 4.7% during the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after acquiring an additional 173 shares during the period. Avidian Wealth Enterprises LLC raised its position in Eversource Energy by 2.9% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after acquiring an additional 176 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC lifted its holdings in Eversource Energy by 4.2% in the third quarter. Gladstone Institutional Advisory LLC now owns 4,711 shares of the utilities provider’s stock valued at $335,000 after acquiring an additional 190 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.0%

Shares of ES stock opened at $70.81 on Wednesday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The firm has a market capitalization of $26.57 billion, a P/E ratio of 19.40, a PEG ratio of 2.38 and a beta of 0.76. The stock’s fifty day moving average is $67.97 and its two-hundred day moving average is $67.98. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.13 earnings per share. Research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Wednesday, December 17th. Eversource Energy’s payout ratio is currently 82.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Wells Fargo & Company cut shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $79.00 to $63.00 in a research note on Wednesday, November 19th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. Mizuho restated a “neutral” rating and issued a $68.00 price target (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a research note on Friday, December 12th. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.27.

Insider Activity

In related news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by company insiders.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.