Los Angeles Capital Management LLC Sells 286,897 Shares of Eversource Energy (NYSE:ES)

Los Angeles Capital Management LLC lowered its position in Eversource Energy (NYSE:ES) by 43.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 373,589 shares of the utilities provider’s stock after selling 286,897 shares during the period. Los Angeles Capital Management LLC’s holdings in Eversource Energy were worth $21,455,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Eversource Energy by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after acquiring an additional 9,981 shares during the period. Verity & Verity LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth $744,000. Nordea Investment Management AB grew its holdings in shares of Eversource Energy by 41.7% in the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after acquiring an additional 510,582 shares during the period. Landscape Capital Management L.L.C. grew its holdings in shares of Eversource Energy by 46.9% in the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after acquiring an additional 10,093 shares during the period. Finally, Everett Harris & Co. CA grew its holdings in shares of Eversource Energy by 125.2% in the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after acquiring an additional 4,500 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $63.79 on Wednesday. The stock’s 50-day simple moving average is $58.40 and its 200-day simple moving average is $62.48. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 2.35 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.72%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s payout ratio is 130.30%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, February 21st. Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Scotiabank lowered their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lowered their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $67.45.

Eversource Energy Company Profile

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.