Eversource Energy (NYSE:ES) Shares Sold by Code Waechter LLC

Code Waechter LLC reduced its stake in Eversource Energy (NYSE:ES) by 53.0% in the first quarter, HoldingsChannel reports. The fund owned 7,331 shares of the utilities provider’s stock after selling 8,275 shares during the quarter. Code Waechter LLC’s holdings in Eversource Energy were worth $455,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Mizuho Bank Ltd. acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $26,000. Assetmark Inc. lifted its stake in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 254 shares during the last quarter. Pinney & Scofield Inc. acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $33,000. Rossby Financial LCC acquired a new stake in Eversource Energy during the first quarter valued at approximately $34,000. Finally, CoreCap Advisors LLC lifted its stake in Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 383 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Mizuho boosted their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. restated an “underweight” rating and set a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, BMO Capital Markets boosted their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a report on Monday, April 28th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $65.67.

Eversource Energy Stock Up 0.8%

Eversource Energy stock opened at $65.10 on Thursday. The firm has a market cap of $23.92 billion, a PE ratio of 28.06, a P/E/G ratio of 2.40 and a beta of 0.62. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.66 and a current ratio of 0.75. The firm’s 50 day moving average price is $63.54 and its two-hundred day moving average price is $60.57. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. On average, research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 15th were paid a $0.7525 dividend. The ex-dividend date was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.62%. Eversource Energy’s dividend payout ratio is presently 129.74%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, the executive vice president owned 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

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.