Eversource Energy (NYSE:ES) Stock Position Trimmed by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of Eversource Energy (NYSE:ES) by 2.8% during the 2nd quarter, Holdings Channel reports. The fund owned 27,671 shares of the utilities provider’s stock after selling 803 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Eversource Energy were worth $1,570,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in ES. ClearBridge Investments Ltd acquired a new position in shares of Eversource Energy in the 1st quarter worth approximately $156,093,000. Zimmer Partners LP raised its holdings in Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after buying an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of 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 worth $227,929,000 after buying an additional 1,524,341 shares during the period. M&G Plc purchased a new position in shares of Eversource Energy in the first quarter worth approximately $83,539,000. Finally, BROOKFIELD Corp ON acquired a new stake in shares of Eversource Energy during the first quarter valued at approximately $65,389,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

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

Eversource Energy Stock Down 0.8 %

Shares of ES stock opened at $65.38 on Friday. Eversource Energy has a one year low of $52.03 and a one year high of $69.01. The stock has a market cap of $23.03 billion, a P/E ratio of -55.41, a price-to-earnings-growth ratio of 2.54 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The stock has a fifty day moving average price of $66.63 and a 200 day moving average price of $61.83.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter last year, the company earned $1.00 EPS. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. Analysts predict that Eversource Energy will post 4.57 earnings per share for the current 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 issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -242.37%.

Analyst Ratings Changes

Several brokerages have recently commented on ES. Wells Fargo & Company raised their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. BMO Capital Markets increased their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “market perform” rating in a research report on Thursday. Mizuho boosted their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Scotiabank lifted their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $70.00.

About Eversource Energy

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.