Eversource Energy (NYSE:ES) Shares Sold by Pensionfund Sabic

Pensionfund Sabic cut its position in Eversource Energy (NYSE:ES) by 9.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,200 shares of the utilities provider’s stock after selling 1,800 shares during the quarter. Pensionfund Sabic’s holdings in Eversource Energy were worth $1,170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. ClearBridge Investments Ltd acquired a new stake in Eversource Energy in the first quarter valued at about $156,093,000. Zimmer Partners LP raised its position in Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after acquiring an additional 1,524,341 shares during the period. M&G Plc purchased a new stake in shares of Eversource Energy during the 1st quarter worth $83,539,000. Finally, BROOKFIELD Corp ON acquired a new position in shares of Eversource Energy during the 1st quarter worth $65,389,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 $591,596. This represents a 0.00 % 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.

Eversource Energy Price Performance

NYSE ES opened at $63.86 on Friday. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The company has a 50 day simple moving average of $66.54 and a 200-day simple moving average of $61.96.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. Research analysts anticipate that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.48%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ES shares. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Scotiabank lifted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Barclays increased their target price on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. BMO Capital Markets lifted their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Finally, Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $70.00.

About Eversource Energy

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.