BTG Pactual Asset Management US LLC Sells 52,955 Shares of Eversource Energy (NYSE:ES)

BTG Pactual Asset Management US LLC reduced its stake in Eversource Energy (NYSE:ES - Free Report) by 48.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,909 shares of the utilities provider's stock after selling 52,955 shares during the period. BTG Pactual Asset Management US LLC's holdings in Eversource Energy were worth $3,268,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP raised its holdings in shares of Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after buying an additional 4,585,232 shares during the last quarter. Norges Bank acquired a new position in shares of Eversource Energy during the fourth quarter valued at $188,838,000. Amundi raised its stake in shares of Eversource Energy by 32.2% during the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock valued at $367,691,000 after purchasing an additional 1,579,818 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Eversource Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock worth $2,561,936,000 after purchasing an additional 1,387,072 shares during the period. Finally, Magellan Asset Management Ltd grew its position in Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after buying an additional 890,514 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of analysts have recently weighed in on ES shares. Barclays reduced their price target on shares of 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 decreased their price target 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 dropped their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research note on Thursday, February 13th. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.78.

Eversource Energy Stock Down 1.2 %

Shares of ES stock traded down $0.68 on Friday, reaching $57.38. 3,762,639 shares of the company's stock traded hands, compared to its average volume of 2,332,387. 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 12-month low of $52.28 and a 12-month high of $69.01. The business's 50 day moving average price is $60.30 and its two-hundred day moving average price is $60.63. The company has a market capitalization of $21.06 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (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%. On average, equities analysts forecast that Eversource Energy will post 4.75 earnings per share 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 given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 5.25%. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. Eversource Energy's dividend payout ratio is presently 130.30%.

Eversource Energy 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.