Eversource Energy (NYSE:ES) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC lessened its holdings in shares of Eversource Energy (NYSE:ES) by 32.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 246,328 shares of the utilities provider’s stock after selling 118,039 shares during the quarter. Clearbridge Investments LLC’s holdings in Eversource Energy were worth $14,147,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of ES. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy in the third quarter valued at about $808,783,000. Norges Bank acquired a new stake in Eversource Energy in the fourth quarter valued at approximately $188,838,000. Amundi raised its stake in shares of Eversource Energy by 32.2% during the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock valued at $367,691,000 after purchasing an additional 1,579,818 shares during the period. Vanguard Group Inc. lifted its position in shares of Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after purchasing an additional 1,387,072 shares in the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock valued at $51,019,000 after purchasing an additional 612,421 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Eversource Energy Trading Up 1.0 %

Eversource Energy stock opened at $62.68 on Thursday. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The firm’s 50-day moving average is $60.58 and its 200-day moving average is $61.46. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $23.01 billion, a P/E ratio of 27.13, a PEG ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, equities analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were given a dividend of $0.7525 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.80%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is currently 130.30%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company cut their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Scotiabank reduced their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Jefferies Financial Group reduced their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays decreased their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $67.40.

Eversource Energy Company 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.