Eversource Energy (NYSE:ES) Position Trimmed by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in Eversource Energy (NYSE:ES) by 0.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 193,423 shares of the utilities provider’s stock after selling 1,713 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Eversource Energy worth $11,561,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Eversource Energy by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock worth $448,567,000 after purchasing an additional 353,171 shares during the last quarter. Nordea Investment Management AB lifted its position in Eversource Energy by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock valued at $388,509,000 after purchasing an additional 475,341 shares during the last quarter. Morgan Stanley boosted its stake in Eversource Energy by 19.3% during the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after purchasing an additional 723,318 shares during the period. American Century Companies Inc. grew its position in Eversource Energy by 23.7% in the 3rd quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock worth $213,005,000 after purchasing an additional 702,360 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its holdings in Eversource Energy by 5.4% in the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock worth $189,301,000 after buying an additional 156,534 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ES. BMO Capital Markets boosted their price objective on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Morgan Stanley dropped their target price on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price for the company in a report on Tuesday, June 25th. Scotiabank decreased their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $67.00 in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $65.86.

Eversource Energy Stock Up 0.1 %

Shares of NYSE:ES traded up $0.06 during trading on Wednesday, reaching $57.90. 467,984 shares of the company traded hands, compared to its average volume of 2,553,823. The firm has a market cap of $20.40 billion, a P/E ratio of -49.03, a price-to-earnings-growth ratio of 2.21 and a beta of 0.59. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $74.81. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The firm has a fifty day simple moving average of $58.90 and a 200 day simple moving average of $58.47.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. Eversource Energy’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 EPS. Analysts anticipate that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date was Wednesday, May 15th. Eversource Energy’s dividend payout ratio is -242.37%.

Insider Activity at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the sale, the executive vice president now owns 10,272 shares in the company, valued at $603,480. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

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.