American International Group Inc. Lowers Position in Eversource Energy (NYSE:ES)

American International Group Inc. reduced its stake in Eversource Energy (NYSE:ES) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,652 shares of the utilities provider’s stock after selling 768 shares during the quarter. American International Group Inc.’s holdings in Eversource Energy were worth $7,755,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Great Oak Capital Partners LLC purchased a new stake in shares of Eversource Energy during the 4th quarter valued at $1,047,000. Cibc World Markets Corp increased its position in shares of Eversource Energy by 133.3% during the 4th quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock valued at $2,775,000 after purchasing an additional 25,688 shares during the last quarter. Ethic Inc. increased its position in shares of Eversource Energy by 23.1% during the 4th quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock valued at $10,167,000 after purchasing an additional 30,890 shares during the last quarter. AGF Management Ltd. increased its position in shares of Eversource Energy by 53.9% during the 4th quarter. AGF Management Ltd. now owns 38,510 shares of the utilities provider’s stock valued at $2,377,000 after purchasing an additional 13,493 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Eversource Energy by 536.0% during the 4th quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider’s stock valued at $7,298,000 after purchasing an additional 99,652 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 0.6 %

Shares of NYSE ES opened at $58.00 on Thursday. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $74.81. The business has a 50-day simple moving average of $59.54 and a two-hundred day simple moving average of $58.87. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The company has a market cap of $20.43 billion, a P/E ratio of -49.15, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm posted $1.41 EPS. The company’s revenue was down 12.2% compared to the same quarter last year. Research analysts anticipate that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.93%. Eversource Energy’s dividend payout ratio is -242.37%.

Wall Street Analysts Forecast Growth

ES has been the subject of several research analyst reports. StockNews.com raised Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Wells Fargo & Company increased their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. The Goldman Sachs Group began coverage on Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. Bank of America increased their price target on Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. Finally, Morgan Stanley increased their price target on Eversource Energy from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $66.07.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at approximately $603,480. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

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.