Amalgamated Bank Lowers Position in Eversource Energy (NYSE:ES)

Amalgamated Bank cut its stake in Eversource Energy (NYSE:ESGet Rating) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,186 shares of the utilities provider’s stock after selling 6,177 shares during the quarter. Amalgamated Bank’s holdings in Eversource Energy were worth $7,601,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Eversource Energy by 2.2% during the first quarter. Vanguard Group Inc. now owns 42,679,421 shares of the utilities provider’s stock valued at $3,763,898,000 after acquiring an additional 925,807 shares during the last quarter. BlackRock Inc. increased its position in shares of Eversource Energy by 19.3% during the fourth quarter. BlackRock Inc. now owns 39,646,912 shares of the utilities provider’s stock valued at $3,607,077,000 after acquiring an additional 6,402,262 shares during the last quarter. State Street Corp increased its position in shares of Eversource Energy by 6.8% during the first quarter. State Street Corp now owns 23,681,621 shares of the utilities provider’s stock valued at $2,088,482,000 after acquiring an additional 1,517,624 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Eversource Energy by 3.0% during the fourth quarter. Geode Capital Management LLC now owns 6,537,050 shares of the utilities provider’s stock valued at $593,253,000 after acquiring an additional 190,201 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Eversource Energy by 2.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,375,101 shares of the utilities provider’s stock valued at $562,220,000 after purchasing an additional 158,961 shares during the period. 78.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ES shares. Credit Suisse Group increased their price objective on Eversource Energy to $90.00 in a report on Tuesday, August 9th. Barclays reduced their price objective on Eversource Energy from $97.00 to $89.00 and set an “equal weight” rating for the company in a report on Monday, July 18th. Evercore ISI reduced their price objective on Eversource Energy to $91.00 in a report on Tuesday, August 9th. Mizuho increased their price objective on Eversource Energy from $91.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, August 10th. Finally, Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $92.00 to $97.00 in a report on Friday, July 8th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $92.18.

Insider Activity at Eversource Energy

In related news, VP Gregory B. Butler sold 5,000 shares of Eversource Energy stock in a transaction on Monday, August 29th. The stock was sold at an average price of $91.33, for a total transaction of $456,650.00. Following the completion of the sale, the vice president now owns 71,814 shares of the company’s stock, valued at $6,558,772.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.38% of the stock is owned by corporate insiders.

Eversource Energy Price Performance

Eversource Energy stock opened at $88.80 on Friday. The firm has a market capitalization of $30.76 billion, a P/E ratio of 23.19, a PEG ratio of 3.43 and a beta of 0.44. Eversource Energy has a one year low of $77.07 and a one year high of $94.63. The business has a fifty day moving average price of $89.20 and a 200-day moving average price of $88.16. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.77 and a quick ratio of 0.71.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 26th will be paid a dividend of $0.6375 per share. This represents a $2.55 annualized dividend and a yield of 2.87%. Eversource Energy’s dividend payout ratio is 66.58%.

About Eversource Energy

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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.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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