BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Eversource Energy (NYSE:ES)

BI Asset Management Fondsmaeglerselskab A S decreased its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 44.5% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 11,351 shares of the utilities provider's stock after selling 9,110 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Eversource Energy were worth $652,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Mizuho Bank Ltd. purchased a new position in Eversource Energy during the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC purchased a new position in shares of Eversource Energy during the 4th quarter valued at $29,000. Assetmark Inc. increased its holdings in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after purchasing an additional 254 shares during the period. Venturi Wealth Management LLC raised its position in shares of Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after buying an additional 301 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Eversource Energy during the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ES shares. Wells Fargo & Company lowered their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Barclays dropped their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a report on Wednesday, January 22nd. StockNews.com cut Eversource Energy from a "hold" rating to a "sell" rating in a research note on Friday. Scotiabank cut their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group reduced their price objective on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $65.78.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the firm's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares of the company's stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Trading Down 1.1 %

Shares of NYSE:ES traded down $0.67 during trading on Friday, reaching $57.86. 2,992,213 shares of the company traded hands, compared to its average volume of 2,345,697. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 25.05, a P/E/G ratio of 2.35 and a beta of 0.58. The business's fifty day moving average is $59.86 and its 200-day moving average is $60.28.

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

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.7525 per share. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date was Tuesday, March 4th. Eversource Energy's dividend payout ratio is currently 130.30%.

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.