Dorsey & Whitney Trust CO LLC Sells 1,514 Shares of Eversource Energy (NYSE:ES)

Dorsey & Whitney Trust CO LLC cut its holdings in shares of Eversource Energy (NYSE:ES) by 25.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,474 shares of the utilities provider’s stock after selling 1,514 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Eversource Energy were worth $254,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp boosted its stake 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 buying an additional 1,524,341 shares in the last quarter. Bank of New York Mellon Corp raised its position in Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after purchasing an additional 354,429 shares during the last quarter. Magellan Asset Management Ltd boosted its stake in shares of Eversource Energy by 5.4% during the fourth quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock valued at $189,301,000 after purchasing an additional 156,534 shares in the last quarter. ClearBridge Investments Ltd bought a new stake in shares of Eversource Energy during the first quarter worth about $156,093,000. Finally, Zimmer Partners LP increased its stake in shares of Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after buying an additional 2,231,585 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $67.51 on Friday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01. The company has a fifty day moving average of $64.52 and a 200-day moving average of $60.93. The firm has a market capitalization of $23.78 billion, a P/E ratio of -57.21, a P/E/G ratio of 2.58 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.00 earnings per share. As a group, sell-side analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.24%. Eversource Energy’s payout ratio is currently -242.37%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Scotiabank boosted their target price 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. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Morgan Stanley lifted 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. Barclays increased their price target on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company lifted their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $68.93.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. 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.