Cambridge Trust Co. Lowers Stake in Eversource Energy (NYSE:ES)

Cambridge Trust Co. cut its position in shares of Eversource Energy (NYSE:ES) by 19.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,916 shares of the utilities provider’s stock after selling 1,180 shares during the quarter. Cambridge Trust Co.’s holdings in Eversource Energy were worth $303,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Quarry LP boosted its position in shares of Eversource Energy by 275.0% in the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 231 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Eversource Energy in the fourth quarter worth approximately $26,000. Resurgent Financial Advisors LLC acquired a new stake in shares of Eversource Energy in the fourth quarter worth approximately $27,000. UMB Bank n.a. lifted its position in Eversource Energy by 130.9% during the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after buying an additional 364 shares in the last quarter. Finally, MV Capital Management Inc. lifted its position in Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after buying an additional 206 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of recent research reports. Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $72.00 in a research report on Monday, January 22nd. Argus reduced their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price on the stock. Finally, StockNews.com raised shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.08.

Eversource Energy Stock Up 1.2 %

ES stock opened at $59.69 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $79.92. The firm has a fifty day moving average price of $58.60 and a two-hundred day moving average price of $57.81. The firm has a market cap of $20.94 billion, a price-to-earnings ratio of -47.37, a PEG ratio of 3.13 and a beta of 0.58.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. Research analysts predict that Eversource Energy will post 4.52 EPS for the current year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio (DPR) is -226.98%.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.