Eversource Energy (NYSE:ES) Shares Sold by FourThought Financial LLC

FourThought Financial LLC cut its holdings in shares of Eversource Energy (NYSE:ES – Get Rating) by 25.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,073 shares of the utilities provider’s stock after selling 1,424 shares during the period. FourThought Financial LLC’s holdings in Eversource Energy were worth $318,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ES. Parcion Private Wealth LLC lifted its position in shares of Eversource Energy by 4.3% during the second quarter. Parcion Private Wealth LLC now owns 3,090 shares of the utilities provider’s stock worth $260,000 after purchasing an additional 126 shares during the last quarter. United Capital Financial Advisers LLC lifted its position in shares of Eversource Energy by 3.6% during the first quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock worth $342,000 after purchasing an additional 134 shares during the last quarter. SBB Research Group LLC lifted its position in shares of Eversource Energy by 5.3% during the third quarter. SBB Research Group LLC now owns 2,710 shares of the utilities provider’s stock worth $211,000 after purchasing an additional 136 shares during the last quarter. Midwest Professional Planners LTD. lifted its position in shares of Eversource Energy by 2.2% during the second quarter. Midwest Professional Planners LTD. now owns 6,319 shares of the utilities provider’s stock worth $534,000 after purchasing an additional 137 shares during the last quarter. Finally, FineMark National Bank & Trust lifted its position in shares of Eversource Energy by 2.1% during the third quarter. FineMark National Bank & Trust now owns 6,672 shares of the utilities provider’s stock worth $520,000 after purchasing an additional 140 shares during the last quarter. 77.37% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

NYSE ES opened at $76.80 on Friday. Eversource Energy has a 12 month low of $70.54 and a 12 month high of $94.63. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.62 and a quick ratio of 0.57. The firm has a market capitalization of $26.76 billion, a PE ratio of 19.01, a P/E/G ratio of 2.63 and a beta of 0.45. The company’s 50 day simple moving average is $79.46 and its 200 day simple moving average is $81.10.

Eversource Energy (NYSE:ES – Get Rating) last posted its quarterly earnings data on Monday, February 13th. The utilities provider reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). Eversource Energy had a net margin of 11.43% and a return on equity of 9.38%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the prior year, the business earned $0.91 EPS. Eversource Energy’s revenue was up 22.1% compared to the same quarter last year. As a group, equities research analysts forecast that Eversource Energy will post 4.37 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 2nd will be given a $0.675 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend is Wednesday, March 1st. This represents a $2.70 annualized dividend and a yield of 3.52%. Eversource Energy’s payout ratio is 66.83%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ES shares. BMO Capital Markets reduced their price target on shares of Eversource Energy from $89.00 to $86.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 15th. Morgan Stanley cut their target price on shares of Eversource Energy from $90.00 to $87.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 22nd. StockNews.com began coverage on shares of Eversource Energy in a report on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company cut their target price on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating on the stock in a report on Wednesday, February 15th. Finally, UBS Group raised their target price on shares of Eversource Energy from $77.00 to $83.00 and gave the stock a “neutral” rating in a report on Thursday, December 1st. Nine equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $89.00.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 1,943 shares of Eversource Energy stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $78.83, for a total value of $153,166.69. Following the transaction, the insider now owns 20,763 shares in the company, valued at $1,636,747.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is currently owned by company insiders.

About Eversource Energy

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.