Bank of New York Mellon Corp Sells 94,508 Shares of Eversource Energy $ES

Bank of New York Mellon Corp reduced its stake in Eversource Energy (NYSE:ES) by 3.7% in the second quarter, Holdings Channel.com reports. The fund owned 2,431,248 shares of the utilities provider’s stock after selling 94,508 shares during the period. Bank of New York Mellon Corp’s holdings in Eversource Energy were worth $154,676,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the business. Burney Co. boosted its stake in Eversource Energy by 85.1% during the second quarter. Burney Co. now owns 83,720 shares of the utilities provider’s stock valued at $5,326,000 after buying an additional 38,490 shares during the period. State of Michigan Retirement System boosted its stake in Eversource Energy by 3.7% during the second quarter. State of Michigan Retirement System now owns 110,533 shares of the utilities provider’s stock valued at $7,032,000 after buying an additional 3,900 shares during the period. Versor Investments LP boosted its stake in Eversource Energy by 265.9% during the second quarter. Versor Investments LP now owns 11,909 shares of the utilities provider’s stock valued at $758,000 after buying an additional 8,654 shares during the period. GHP Investment Advisors Inc. boosted its stake in Eversource Energy by 2,459.8% during the second quarter. GHP Investment Advisors Inc. now owns 2,867 shares of the utilities provider’s stock valued at $182,000 after buying an additional 2,755 shares during the period. Finally, Twin City Private Wealth LLC bought a new stake in Eversource Energy during the second quarter valued at $1,047,000. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. TD Cowen assumed coverage on Eversource Energy in a research note on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Scotiabank set a $64.00 price objective on Eversource Energy and gave the company a “sector underperform” rating in a research note on Wednesday. Jefferies Financial Group raised their price target on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Four investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $71.56.

Eversource Energy Stock Down 1.2%

ES opened at $72.90 on Thursday. The company has a market cap of $27.05 billion, a P/E ratio of 19.97, a P/E/G ratio of 2.65 and a beta of 0.69. The business’s 50-day moving average price is $69.49 and its 200-day moving average price is $65.83. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a return on equity of 11.19% and a net margin of 10.22%.The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.13 earnings per share. On average, equities analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s payout ratio is currently 129.18%.

Insider Activity at Eversource Energy

In related news, insider Loretta D. Keane acquired 3,780 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.41% of the company’s stock.

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.