Thrivent Financial for Lutherans Sells 7,465 Shares of Eversource Energy (NYSE:ES)

Thrivent Financial for Lutherans cut its position in shares of Eversource Energy (NYSE:ES) by 10.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,012 shares of the utilities provider’s stock after selling 7,465 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Eversource Energy were worth $3,619,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Retirement Planning Co of New England Inc. bought a new stake in shares of Eversource Energy during the 4th quarter valued at $228,000. Mystic Asset Management Inc. boosted its stake in Eversource Energy by 44.9% during the fourth quarter. Mystic Asset Management Inc. now owns 13,439 shares of the utilities provider’s stock worth $772,000 after acquiring an additional 4,164 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in Eversource Energy during the fourth quarter worth about $57,000. Signaturefd LLC grew its holdings in Eversource Energy by 11.0% in the fourth quarter. Signaturefd LLC now owns 13,243 shares of the utilities provider’s stock worth $761,000 after purchasing an additional 1,313 shares during the period. Finally, Cibc World Markets Corp increased its stake in shares of Eversource Energy by 18.9% during the fourth quarter. Cibc World Markets Corp now owns 57,378 shares of the utilities provider’s stock valued at $3,295,000 after purchasing an additional 9,136 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

Shares of ES opened at $59.00 on Wednesday. The firm has a fifty day simple moving average of $60.10 and a two-hundred day simple moving average of $61.69. The firm has a market cap of $21.66 billion, a PE ratio of 25.54, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. On average, equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 5.10%. The ex-dividend date of this dividend is Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is 130.30%.

Insider Buying and Selling

In related news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Barclays reduced their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 21st. Finally, Scotiabank decreased their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $67.40.

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.