Legacy Wealth Management LLC MS Sells 3,280 Shares of Eversource Energy (NYSE:ES)

Legacy Wealth Management LLC MS cut its stake in Eversource Energy (NYSE:ES) by 17.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,950 shares of the utilities provider’s stock after selling 3,280 shares during the quarter. Legacy Wealth Management LLC MS’s holdings in Eversource Energy were worth $916,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Brooklyn Investment Group bought a new position in shares of Eversource Energy during the third quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new position in Eversource Energy during the 3rd quarter valued at $32,000. UMB Bank n.a. grew its position in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 198 shares during the last quarter. Larson Financial Group LLC increased its stake in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 350 shares during the period. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Eversource Energy during the third quarter valued at $48,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Down 1.3 %

Eversource Energy stock traded down $0.75 during mid-day trading on Monday, reaching $56.56. 151,109 shares of the company’s stock were exchanged, compared to its average volume of 1,213,763. The company has a fifty day moving average of $60.80 and a 200-day moving average of $62.99. The company has a market cap of $20.72 billion, a P/E ratio of -36.03, a P/E/G ratio of 2.38 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same period last year, the business posted $0.97 earnings per share. Eversource Energy’s revenue was up 9.7% compared to the same quarter last year. Sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, December 18th were paid a dividend of $0.715 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.06%. Eversource Energy’s payout ratio is -182.17%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. BMO Capital Markets reduced their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Jefferies Financial Group initiated coverage on Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price for the company. Mizuho lifted their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Finally, Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and dropped their price objective for the company from $66.00 to $56.00 in a report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average price target of $68.38.

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.