Eversource Energy (NYSE:ES) Shares Sold by ClearBridge Investments Ltd

ClearBridge Investments Ltd lowered its position in shares of Eversource Energy (NYSE:ES) by 14.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 2,243,822 shares of the utilities provider’s stock after selling 367,747 shares during the quarter. Eversource Energy comprises about 3.7% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 12th largest position. ClearBridge Investments Ltd’s holdings in Eversource Energy were worth $127,247,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Zimmer Partners LP boosted its holdings in shares of Eversource Energy by 730.4% in the 1st 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. 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 acquiring an additional 1,524,341 shares during the period. M&G Plc bought a new position in shares of Eversource Energy during the first quarter valued at approximately $83,539,000. BROOKFIELD Corp ON acquired a new stake in shares of Eversource Energy during the 1st quarter worth approximately $65,389,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Eversource Energy by 201.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock worth $55,273,000 after purchasing an additional 651,263 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Activity

In related news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The stock was 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 approximately $639,464.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at $639,464.18. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ES. Bank of America boosted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Barclays upped their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. BMO Capital Markets dropped their price target on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, August 19th. Scotiabank boosted their price objective on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $68.93.

Eversource Energy Price Performance

NYSE:ES opened at $67.14 on Monday. 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 business’s 50-day moving average price is $65.64 and its 200 day moving average price is $61.36. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The firm has a market cap of $23.65 billion, a P/E ratio of -56.90, a PEG ratio of 2.59 and a beta of 0.61.

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

Eversource Energy Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.26%. 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.