Hartford Investment Management Co. trimmed its stake in shares of Eversource Energy (NYSE:ES – Get Rating) by 6.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,404 shares of the utilities provider’s stock after selling 2,391 shares during the quarter. Hartford Investment Management Co.’s holdings in Eversource Energy were worth $2,858,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. David J Yvars Group acquired a new position in Eversource Energy during the 4th quarter worth $26,000. Country Trust Bank acquired a new position in shares of Eversource Energy during the 4th quarter worth about $28,000. TAP Consulting LLC acquired a new position in shares of Eversource Energy during the 4th quarter worth about $28,000. Rinkey Investments acquired a new position in shares of Eversource Energy during the 4th quarter worth about $31,000. Finally, EverSource Wealth Advisors LLC acquired a new position in shares of Eversource Energy during the 4th quarter worth about $33,000. 80.74% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. StockNews.com assumed coverage on Eversource Energy in a research report on Thursday, March 31st. They set a “hold” rating for the company. Seaport Res Ptn reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, March 28th. Wells Fargo & Company upped their objective price on Eversource Energy from $92.00 to $97.00 in a research report on Thursday, May 5th. UBS Group decreased their target price on Eversource Energy from $92.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Wolfe Research cut Eversource Energy from an “outperform” rating to a “peer perform” rating and decreased their target price for the company from $87.00 to $85.00 in a research report on Wednesday, March 9th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $89.38.
In other Eversource Energy news, EVP James W. Hunt III sold 4,444 shares of the company’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $90.00, for a total transaction of $399,960.00. Following the completion of the sale, the executive vice president now directly owns 16,115 shares of the company’s stock, valued at approximately $1,450,350. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 1,859 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $90.84, for a total value of $168,871.56. Following the sale, the insider now directly owns 20,286 shares of the company’s stock, valued at $1,842,780.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,953 shares of company stock valued at $995,989. 0.38% of the stock is owned by company insiders.
Shares of NYSE ES opened at $87.15 on Friday. The stock has a market cap of $30.06 billion, a PE ratio of 23.18, a price-to-earnings-growth ratio of 3.41 and a beta of 0.45. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 1.21. Eversource Energy has a 52-week low of $77.07 and a 52-week high of $94.63. The business has a 50-day moving average price of $87.77 and a 200 day moving average price of $87.38.
Eversource Energy (NYSE:ES – Get Rating) last announced its earnings results on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.08. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Eversource Energy had a return on equity of 9.52% and a net margin of 12.32%. The business’s revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 EPS. Sell-side analysts anticipate that Eversource Energy will post 4.11 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, May 19th were paid a dividend of $0.6375 per share. This represents a $2.55 annualized dividend and a yield of 2.93%. The ex-dividend date was Wednesday, May 18th. Eversource Energy’s dividend payout ratio is presently 67.82%.
About Eversource Energy (Get Rating)
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.
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