Clearbridge Investments LLC Reduces Stock Position in Eversource Energy (NYSE:ES)

Clearbridge Investments LLC lowered its holdings in Eversource Energy (NYSE:ES - Free Report) by 32.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 246,328 shares of the utilities provider's stock after selling 118,039 shares during the period. Clearbridge Investments LLC owned about 0.07% of Eversource Energy worth $14,147,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. California Public Employees Retirement System grew its position in shares of Eversource Energy by 1.6% during the 4th quarter. California Public Employees Retirement System now owns 1,645,702 shares of the utilities provider's stock valued at $94,513,000 after acquiring an additional 25,122 shares during the period. Allianz SE bought a new position in Eversource Energy during the fourth quarter valued at $1,409,000. Allstate Corp bought a new position in Eversource Energy during the fourth quarter valued at $628,000. DnB Asset Management AS increased its position in Eversource Energy by 76.8% in the fourth quarter. DnB Asset Management AS now owns 285,605 shares of the utilities provider's stock worth $16,402,000 after buying an additional 124,104 shares during the last quarter. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of Eversource Energy in the fourth quarter valued at $246,000. Institutional investors own 79.99% of the company's stock.

Insider Activity

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

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Eversource Energy Price Performance

Shares of ES stock traded down $2.82 on Monday, reaching $55.52. The company's stock had a trading volume of 4,874,495 shares, compared to its average volume of 2,295,598. The company has a market capitalization of $20.38 billion, a P/E ratio of 24.03, a PEG ratio of 2.35 and a beta of 0.58. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. The stock's 50 day simple moving average is $60.68 and its 200-day simple moving average is $61.22. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

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

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.42%. Eversource Energy's dividend payout ratio is presently 130.30%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Jefferies Financial Group reduced their target price on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research note on Tuesday, January 28th. StockNews.com lowered shares of Eversource Energy from a "hold" rating to a "sell" rating in a research report on Sunday. Scotiabank cut their price objective on shares of 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, Wells Fargo & Company reduced their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $67.44.

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.