Cambridge Trust Co. Has $303,000 Position in Eversource Energy (NYSE:ES)

Cambridge Trust Co. lowered its holdings in shares of Eversource Energy (NYSE:ES) by 19.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,916 shares of the utilities provider’s stock after selling 1,180 shares during the quarter. Cambridge Trust Co.’s holdings in Eversource Energy were worth $303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quarry LP lifted its holdings in shares of Eversource Energy by 275.0% during the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 231 shares during the period. Exchange Traded Concepts LLC bought a new position in shares of Eversource Energy in the fourth quarter valued at about $26,000. Resurgent Financial Advisors LLC bought a new position in shares of Eversource Energy in the fourth quarter valued at about $27,000. UMB Bank n.a. raised its holdings in shares of Eversource Energy by 130.9% in the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after buying an additional 364 shares during the last quarter. Finally, MV Capital Management Inc. raised its holdings in shares of Eversource Energy by 40.4% in the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after buying an additional 206 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Insider Activity at Eversource Energy

In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $59.69 on Friday. The stock has a market capitalization of $20.94 billion, a P/E ratio of -47.37, a P/E/G ratio of 3.13 and a beta of 0.58. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $79.92. The business has a 50-day moving average price of $58.60 and a two-hundred day moving average price of $57.81. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.02). The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. Eversource Energy’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.92 earnings per share. Equities analysts predict that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were given a $0.715 dividend. The ex-dividend date was Monday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a dividend yield of 4.79%. Eversource Energy’s payout ratio is currently -226.98%.

Analyst Upgrades and Downgrades

ES has been the subject of a number of research analyst reports. Citigroup lifted their price target on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $60.00 to $72.00 in a report on Monday, January 22nd. BMO Capital Markets lifted their price target on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $54.00 to $62.00 in a report on Thursday, February 15th. Finally, Argus cut their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.08.

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.