Eversource Energy (NYSE:ES) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lessened its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 61.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,410 shares of the utilities provider's stock after selling 24,858 shares during the quarter. Intech Investment Management LLC's holdings in Eversource Energy were worth $885,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in ES. Wellington Management Group LLP purchased a new stake in Eversource Energy during the 3rd quarter worth approximately $808,783,000. Amundi grew its stake in shares of Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock worth $367,691,000 after acquiring an additional 1,579,818 shares in the last quarter. National Bank of Canada FI increased its position in shares of Eversource Energy by 446.0% during the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider's stock worth $51,019,000 after acquiring an additional 612,421 shares during the period. Nordea Investment Management AB raised its stake in shares of Eversource Energy by 41.7% in the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider's stock valued at $99,554,000 after acquiring an additional 510,582 shares in the last quarter. Finally, State Street Corp boosted its holdings in Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider's stock valued at $1,737,990,000 after purchasing an additional 430,587 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

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Eversource Energy Stock Up 0.6 %

Shares of NYSE ES traded up $0.37 during mid-day trading on Thursday, reaching $60.31. The company had a trading volume of 1,487,320 shares, compared to its average volume of 2,169,001. The firm has a 50 day simple moving average of $60.17 and a two-hundred day simple moving average of $61.68. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. 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 stock has a market cap of $22.14 billion, a P/E ratio of 26.11, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 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%. Sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.99%. Eversource Energy's payout ratio is 130.30%.

Insider Activity

In other news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on ES shares. Scotiabank cut their price target 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. Barclays cut their target price on shares of 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. Jefferies Financial Group decreased their price target 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. Wells Fargo & Company lowered their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. Finally, Guggenheim restated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $67.40.

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.