Eversource Energy $ES Shares Sold by Forsta AP Fonden

Forsta AP Fonden lessened its holdings in Eversource Energy (NYSE:ES) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,800 shares of the utilities provider’s stock after selling 5,500 shares during the quarter. Forsta AP Fonden’s holdings in Eversource Energy were worth $6,158,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trust Co. of Toledo NA OH acquired a new position in shares of Eversource Energy in the 2nd quarter valued at about $28,000. Hilltop National Bank acquired a new position in Eversource Energy in the second quarter valued at approximately $32,000. True Wealth Design LLC grew its holdings in shares of Eversource Energy by 540.0% during the second quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 513 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in shares of Eversource Energy during the 1st quarter worth approximately $46,000. Finally, Bogart Wealth LLC lifted its holdings in shares of Eversource Energy by 100.9% in the 2nd quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 466 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group upped their price objective on Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 22nd. Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. TD Cowen started coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They set a “hold” rating and a $76.00 target price for the company. Finally, Scotiabank raised their price target on shares of Eversource Energy from $55.00 to $64.00 and gave the company a “sector underperform” rating in a research note on Wednesday, November 5th. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $72.70.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $73.31 on Friday. The stock has a market cap of $27.51 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 2.64 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. The stock’s 50 day moving average price is $70.78 and its 200 day moving average price is $66.51.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the firm earned $1.13 EPS. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio is presently 82.47%.

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.41% of the company’s stock.

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.