Eversource Energy (NYSE:ES) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in shares of Eversource Energy (NYSE:ES) by 15.4% in the second quarter, Holdings Channel.com reports. The fund owned 18,351 shares of the utilities provider’s stock after selling 3,344 shares during the quarter. Truist Financial Corp’s holdings in Eversource Energy were worth $1,041,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EP Wealth Advisors LLC acquired a new position in shares of Eversource Energy during the 2nd quarter worth approximately $935,000. B. Riley Wealth Advisors Inc. lifted its position in Eversource Energy by 45.2% during the second quarter. B. Riley Wealth Advisors Inc. now owns 5,496 shares of the utilities provider’s stock worth $312,000 after buying an additional 1,711 shares in the last quarter. Quarry LP boosted its stake in Eversource Energy by 203.7% during the second quarter. Quarry LP now owns 3,204 shares of the utilities provider’s stock worth $182,000 after buying an additional 2,149 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Eversource Energy by 15.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 13,506 shares of the utilities provider’s stock valued at $766,000 after buying an additional 1,846 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of Eversource Energy by 3.5% in the 2nd quarter. Duff & Phelps Investment Management Co. now owns 1,065,914 shares of the utilities provider’s stock worth $60,448,000 after acquiring an additional 36,112 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy 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 sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ES. Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Mizuho lifted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Barclays increased their price objective on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Morgan Stanley raised their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $70.00.

Eversource Energy Stock Performance

NYSE:ES opened at $63.82 on Monday. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01. The company has a fifty day simple moving average of $66.43 and a two-hundred day simple moving average of $62.08. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The company has a market cap of $22.48 billion, a price-to-earnings ratio of -54.08, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 EPS. As a group, equities analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.48%. Eversource Energy’s dividend payout ratio is currently -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.