Eversource Energy (NYSE:ES) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in Eversource Energy (NYSE:ES) by 6.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,709,697 shares of the utilities provider’s stock after selling 185,431 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.74% of Eversource Energy worth $155,618,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Brooklyn Investment Group acquired a new position in Eversource Energy in the third quarter valued at approximately $31,000. Ashton Thomas Securities LLC acquired a new position in Eversource Energy in the third quarter valued at approximately $32,000. Kestra Investment Management LLC acquired a new position in Eversource Energy in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC lifted its holdings in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 301 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ES. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company reduced their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Scotiabank reduced their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $67.45.

Eversource Energy Stock Up 1.0 %

Shares of ES opened at $63.01 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a one year low of $54.75 and a one year high of $69.01. The stock has a market capitalization of $23.11 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.35 and a beta of 0.62. The stock has a 50 day moving average price of $58.80 and a 200 day moving average price of $62.47.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.78%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

Insider Buying and Selling at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is 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.