New York State Common Retirement Fund Decreases Stake in Eversource Energy (NYSE:ES)

New York State Common Retirement Fund reduced its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 13.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 638,460 shares of the utilities provider's stock after selling 101,700 shares during the period. New York State Common Retirement Fund owned about 0.18% of Eversource Energy worth $43,447,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lynx Investment Advisory bought a new position in Eversource Energy in the 2nd quarter valued at $25,000. UMB Bank n.a. increased its position in shares of Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Manchester Capital Management LLC increased its position in shares of Eversource Energy by 83.6% during the 1st quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 276 shares during the last quarter. Salomon & Ludwin LLC increased its position in shares of Eversource Energy by 4,187.5% during the 1st quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 670 shares during the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Eversource Energy during the 1st quarter valued at $43,000. 79.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ES has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a "neutral" rating in a report on Thursday, August 29th. BMO Capital Markets decreased their price objective on Eversource Energy from $74.00 to $72.00 and set a "market perform" rating for the company in a report on Tuesday, October 15th. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, August 23rd. Finally, Mizuho lifted their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an "outperform" rating in a report on Wednesday, October 2nd. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Eversource Energy presently has an average rating of "Hold" and an average price target of $70.07.

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction dated 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 sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Penelope M. Conner sold 500 shares of the business's stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the business'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 value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company's stock, valued at $591,596. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Price Performance

NYSE ES traded down $2.18 during trading hours on Friday, hitting $63.67. The company had a trading volume of 2,303,867 shares, compared to its average volume of 1,848,663. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The firm has a 50 day simple moving average of $66.42 and a 200 day simple moving average of $62.79. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The firm has a market capitalization of $22.76 billion, a price-to-earnings ratio of -235.81, a PEG ratio of 2.57 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company's revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. Equities research analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.49%. Eversource Energy's dividend payout ratio (DPR) is presently -1,059.26%.

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.