Eversource Energy (NYSE:ES) Shares Sold by Vestmark Advisory Solutions Inc.

Vestmark Advisory Solutions Inc. cut its holdings in Eversource Energy (NYSE:ES) by 9.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,266 shares of the utilities provider’s stock after selling 546 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Eversource Energy were worth $325,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Victory Capital Management Inc. grew its stake in shares of Eversource Energy by 10.8% during the 3rd quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider’s stock worth $26,168,000 after purchasing an additional 43,720 shares during the period. OLD Republic International Corp purchased a new position in Eversource Energy in the third quarter valued at about $27,283,000. Cerity Partners LLC lifted its position in shares of Eversource Energy by 536.0% during the 4th quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider’s stock valued at $7,298,000 after acquiring an additional 99,652 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Eversource Energy by 51.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 182,844 shares of the utilities provider’s stock worth $11,285,000 after acquiring an additional 61,732 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Eversource Energy by 21.3% in the 4th quarter. abrdn plc now owns 488,683 shares of the utilities provider’s stock worth $30,162,000 after acquiring an additional 85,756 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $59.71 on Tuesday. The company has a market cap of $20.94 billion, a P/E ratio of -50.60, a P/E/G ratio of 3.21 and a beta of 0.57. The firm’s 50 day moving average is $59.21 and its two-hundred day moving average is $58.18. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.92. 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 (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 earnings per share. Analysts expect that Eversource Energy will post 4.49 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 4.79%. Eversource Energy’s payout ratio is -242.37%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ES shares. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $60.00 to $72.00 in a report on Monday, January 22nd. Scotiabank lowered 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 report on Monday, April 22nd. Finally, Argus cut their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $66.23.

Insider Buying and Selling at Eversource Energy

In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 approximately $1,245,369.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $609,388.20. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

About Eversource Energy

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.