Gabelli Funds LLC Decreases Stake in Eversource Energy (NYSE:ES)

Gabelli Funds LLC lessened its holdings in Eversource Energy (NYSE:ES - Free Report) by 1.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 829,250 shares of the utilities provider's stock after selling 9,500 shares during the period. Gabelli Funds LLC owned about 0.23% of Eversource Energy worth $47,624,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ES. Mizuho Bank Ltd. bought a new position in shares of Eversource Energy during the fourth quarter valued at about $26,000. Kestra Investment Management LLC bought a new position in shares of Eversource Energy during the 4th quarter worth approximately $29,000. Assetmark Inc. lifted its position in shares of Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after buying an additional 254 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after buying an additional 301 shares during the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of Eversource Energy in the fourth quarter valued at approximately $35,000. Institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded down $0.68 on Friday, reaching $57.38. The stock had a trading volume of 3,762,639 shares, compared to its average volume of 2,335,212. The business's 50 day moving average is $60.22 and its two-hundred day moving average is $60.56. 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 1 year low of $52.28 and a 1 year high of $69.01. The company has a market cap 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 posted its earnings results 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 net margin of 6.82% and a return on equity of 10.99%. As a group, research analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.7525 per share. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.25%. Eversource Energy's payout ratio is presently 130.30%.

Insider Buying and Selling

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 Eversource Energy stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ES. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Jefferies Financial Group dropped their target price on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. Barclays decreased 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. Scotiabank lowered their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Eversource Energy presently has an average rating of "Hold" and a consensus target price of $65.78.

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.