Assenagon Asset Management S.A. Reduces Position in Eversource Energy (NYSE:ES)

Assenagon Asset Management S.A. cut its holdings in shares of Eversource Energy (NYSE:ES) by 3.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,547 shares of the utilities provider’s stock after selling 541 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Eversource Energy were worth $922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Lynx Investment Advisory purchased a new stake in Eversource Energy in the second quarter valued at approximately $25,000. UMB Bank n.a. raised its stake in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares in the last quarter. Manchester Capital Management LLC raised its stake in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 276 shares in the last quarter. Salomon & Ludwin LLC raised its stake in Eversource Energy by 4,187.5% in the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 670 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new stake in Eversource Energy in the first quarter valued at approximately $43,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated 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 in the company, valued at $591,596. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated 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 owns 9,847 shares in the company, valued at approximately $639,464.18. This 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 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 owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on ES. Mizuho increased 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. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America increased their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets reduced their price target 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. Finally, Scotiabank raised their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Performance

NYSE:ES opened at $63.67 on Friday. The stock’s fifty day moving average is $66.42 and its 200 day moving average is $62.76. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The firm has a market capitalization of $22.76 billion, a PE ratio of -235.81, a PEG ratio of 2.57 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter last year, the firm posted $1.00 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is -1,059.26%.

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.