Los Angeles Capital Management LLC Sells 314,179 Shares of Eversource Energy (NYSE:ES)

Los Angeles Capital Management LLC lowered its holdings in Eversource Energy (NYSE:ES - Free Report) by 32.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 660,486 shares of the utilities provider's stock after selling 314,179 shares during the period. Los Angeles Capital Management LLC owned about 0.18% of Eversource Energy worth $44,946,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Axxcess Wealth Management LLC acquired a new stake in shares of Eversource Energy in the third quarter valued at approximately $238,000. Atria Investments Inc increased its position in Eversource Energy by 61.8% in the 3rd quarter. Atria Investments Inc now owns 20,913 shares of the utilities provider's stock valued at $1,423,000 after acquiring an additional 7,984 shares during the period. SpiderRock Advisors LLC raised its stake in Eversource Energy by 81.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 8,360 shares of the utilities provider's stock valued at $569,000 after acquiring an additional 3,746 shares in the last quarter. Easterly Investment Partners LLC boosted its position in Eversource Energy by 14.2% during the 3rd quarter. Easterly Investment Partners LLC now owns 206,383 shares of the utilities provider's stock worth $14,044,000 after acquiring an additional 25,735 shares during the period. Finally, Capital Performance Advisors LLP bought a new position in shares of Eversource Energy in the third quarter worth $49,000. 79.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Stock Up 1.0 %

Shares of NYSE:ES traded up $0.58 on Friday, reaching $61.40. The company had a trading volume of 2,412,697 shares, compared to its average volume of 2,189,147. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $22.50 billion, a P/E ratio of -39.11, a P/E/G ratio of 2.37 and a beta of 0.61. The stock has a 50-day moving average price of $65.90 and a 200 day moving average price of $62.83. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a positive return on equity of 11.00% and a negative net margin of 4.73%. The company's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.97 earnings per share. On average, equities analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy's dividend payout ratio (DPR) is -182.17%.

Analyst Ratings Changes

A number of brokerages have issued reports on ES. Wells Fargo & Company increased their price target on Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Scotiabank lifted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. Morgan Stanley increased their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, August 23rd. BMO Capital Markets decreased their target price on Eversource Energy from $74.00 to $72.00 and set a "market perform" rating on the stock in a report on Tuesday, October 15th. Finally, Barclays upped their target price on Eversource Energy from $69.00 to $72.00 and gave the company an "equal weight" rating in a report on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $70.46.

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.