Eversource Energy (NYSE:ES) Position Cut by Commerce Bank

Commerce Bank lowered its holdings in shares of Eversource Energy (NYSE:ES) by 6.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,206 shares of the utilities provider’s stock after selling 5,319 shares during the period. Commerce Bank’s holdings in Eversource Energy were worth $4,642,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ES. Exchange Traded Concepts LLC bought a new stake in Eversource Energy during the fourth quarter worth approximately $26,000. Bfsg LLC bought a new stake in shares of Eversource Energy in the 4th quarter worth approximately $31,000. Hexagon Capital Partners LLC lifted its stake in Eversource Energy by 84.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 272 shares during the last quarter. MV Capital Management Inc. boosted its holdings in Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after buying an additional 206 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in Eversource Energy in the fourth quarter worth approximately $43,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

ES opened at $57.53 on Friday. 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 stock has a 50-day moving average of $59.61 and a 200-day moving average of $58.78. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81.

Eversource Energy (NYSE:ES) last posted its 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. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.41 EPS. Equities analysts forecast that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

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

Analyst Upgrades and Downgrades

ES has been the subject of a number of recent research reports. The Goldman Sachs Group started coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective for the company. Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Bank of America boosted their price target on shares of Eversource Energy from $50.00 to $61.00 and gave the company an “underperform” rating in a report on Wednesday, May 15th. Finally, StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $65.86.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,245,369.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

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.