New York State Teachers Retirement System Reduces Position in Eversource Energy (NYSE:ES)

New York State Teachers Retirement System trimmed its position in Eversource Energy (NYSE:ES) by 4.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 302,646 shares of the utilities provider’s stock after selling 13,877 shares during the period. New York State Teachers Retirement System’s holdings in Eversource Energy were worth $20,595,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lynx Investment Advisory purchased a new stake in Eversource Energy in the 2nd quarter worth approximately $25,000. UMB Bank n.a. boosted its holdings in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares in the last quarter. Manchester Capital Management LLC increased its position in 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 period. Salomon & Ludwin LLC raised its holdings in Eversource Energy by 4,187.5% in the 1st quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 670 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in shares of Eversource Energy in the 1st quarter worth about $43,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Down 3.3 %

Shares of NYSE ES opened at $63.67 on Friday. The firm’s 50 day moving average price is $66.42 and its 200-day moving average price is $62.72. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. 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 company has a market cap of $22.75 billion, a PE ratio of -235.81, a P/E/G ratio of 2.55 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 EPS. On average, equities research analysts expect that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

ES has been the topic of several research analyst reports. Scotiabank boosted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Morgan Stanley upped their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Mizuho raised 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. BMO Capital Markets reduced their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Finally, Barclays raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $70.07.

Insider Buying and Selling at Eversource Energy

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