Clearbridge Investments LLC Sells 8,003 Shares of Eversource Energy (NYSE:ES)

Clearbridge Investments LLC trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 484,743 shares of the utilities provider’s stock after selling 8,003 shares during the quarter. Clearbridge Investments LLC owned approximately 0.14% of Eversource Energy worth $29,918,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. raised its stake in Eversource Energy by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock valued at $448,567,000 after purchasing an additional 353,171 shares in the last quarter. Legal & General Group Plc raised its stake in Eversource Energy by 2.5% during the third quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock valued at $385,457,000 after purchasing an additional 163,053 shares in the last quarter. Nordea Investment Management AB raised its stake in Eversource Energy by 8.2% during the fourth quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock valued at $388,509,000 after purchasing an additional 475,341 shares in the last quarter. Morgan Stanley raised its stake 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. Finally, Northern Trust Corp raised its stake in Eversource Energy by 2.7% during the third quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock valued at $246,409,000 after purchasing an additional 111,294 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $57.53 on Friday. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $74.81. The company’s 50 day moving average is $59.64 and its 200 day moving average is $58.75. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The company has a market cap of $20.27 billion, a PE ratio of -48.75, a price-to-earnings-growth ratio of 2.44 and a beta of 0.57.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company earned $1.41 EPS. Eversource Energy’s quarterly revenue was down 12.2% on a year-over-year basis. On average, sell-side analysts forecast that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.97%. Eversource Energy’s payout ratio is -242.37%.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of analyst reports. Scotiabank cut their price objective 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. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective on the stock. Argus cut their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Citigroup boosted their price objective on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Finally, UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.86.

Insider Transactions at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.