ClearBridge Investments Ltd Sells 283,693 Shares of Eversource Energy (NYSE:ES)

ClearBridge Investments Ltd lessened its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,469,123 shares of the utilities provider's stock after selling 283,693 shares during the quarter. Eversource Energy makes up 2.2% of ClearBridge Investments Ltd's portfolio, making the stock its 17th largest holding. ClearBridge Investments Ltd owned 0.40% of Eversource Energy worth $84,372,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. California Public Employees Retirement System boosted its position in shares of Eversource Energy by 1.6% in the fourth quarter. California Public Employees Retirement System now owns 1,645,702 shares of the utilities provider's stock worth $94,513,000 after purchasing an additional 25,122 shares during the period. Allianz SE purchased a new stake in Eversource Energy in the 4th quarter worth $1,409,000. Allstate Corp bought a new stake in Eversource Energy during the fourth quarter valued at about $628,000. DnB Asset Management AS lifted its position in shares of Eversource Energy by 76.8% in the fourth quarter. DnB Asset Management AS now owns 285,605 shares of the utilities provider's stock valued at $16,402,000 after acquiring an additional 124,104 shares in the last quarter. Finally, Orion Portfolio Solutions LLC purchased a new position in shares of Eversource Energy in the fourth quarter valued at about $246,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Trading Down 0.7 %

NYSE:ES traded down $0.42 during midday trading on Thursday, hitting $62.21. 691,121 shares of the company traded hands, compared to its average volume of 2,259,891. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm's fifty day moving average is $60.58 and its 200-day moving average is $61.46. The firm has a market capitalization of $22.84 billion, a P/E ratio of 26.93, a P/E/G 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.

Eversource Energy (NYSE:ES - Get Free Report) last announced its 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%. On average, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm 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 represents a $3.01 annualized dividend and a dividend yield of 4.84%. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 4th. Eversource Energy's dividend payout ratio is presently 130.30%.

Analysts Set New Price Targets

Several brokerages recently issued reports on ES. Barclays decreased their target price on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group reduced their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Saturday, March 29th. Finally, Scotiabank reduced their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eversource Energy has an average rating of "Hold" and a consensus target price of $67.40.

Insider Buying and Selling

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jay S. Buth sold 980 shares of the business's 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 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. 0.41% of the stock is owned by corporate 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.