Pensionfund Sabic Trims Stock Position in Eversource Energy (NYSE:ES)

Pensionfund Sabic trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 5.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,000 shares of the utilities provider’s stock after selling 1,000 shares during the period. Pensionfund Sabic’s holdings in Eversource Energy were worth $1,136,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ES. Kestra Advisory Services LLC raised its stake in shares of Eversource Energy by 15.5% during the 3rd quarter. Kestra Advisory Services LLC now owns 14,241 shares of the utilities provider’s stock worth $828,000 after buying an additional 1,909 shares in the last quarter. Rafferty Asset Management LLC increased its stake in Eversource Energy by 11.7% in the 3rd quarter. Rafferty Asset Management LLC now owns 35,576 shares of the utilities provider’s stock valued at $2,069,000 after purchasing an additional 3,721 shares in the last quarter. QRG Capital Management Inc. purchased a new position in Eversource Energy in the 3rd quarter valued at approximately $595,000. Envestnet Portfolio Solutions Inc. purchased a new position in Eversource Energy in the 3rd quarter valued at approximately $301,000. Finally, Envestnet Asset Management Inc. increased its stake in Eversource Energy by 80.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 311,122 shares of the utilities provider’s stock valued at $18,092,000 after purchasing an additional 138,838 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ES has been the topic of a number of analyst reports. Argus lowered their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. BMO Capital Markets increased their target price on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Bank of America increased their target price on Eversource Energy from $50.00 to $61.00 and gave the company an “underperform” rating in a report on Wednesday, May 15th. Scotiabank lowered their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. Finally, Wells Fargo & Company raised their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Two 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’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $66.07.

Insider Transactions at Eversource Energy

In other news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy 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 sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy 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 sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction dated 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 owns 10,272 shares of the company’s stock, valued at $603,480. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

NYSE:ES opened at $58.00 on Thursday. The business’s 50-day moving average is $59.54 and its two-hundred day moving average is $58.87. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $74.81.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was down 12.2% compared to the same quarter last year. Equities research analysts anticipate that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

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.