Lockheed Martin Investment Management Co. Decreases Holdings in Eversource Energy (NYSE:ES)

Lockheed Martin Investment Management Co. reduced its holdings in Eversource Energy (NYSE:ESGet Rating) by 27.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,800 shares of the utilities provider’s stock after selling 8,600 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Eversource Energy were worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Veritable L.P. lifted its stake in shares of Eversource Energy by 1.5% in the first quarter. Veritable L.P. now owns 7,956 shares of the utilities provider’s stock worth $702,000 after buying an additional 118 shares in the last quarter. Raymond James Trust N.A. lifted its stake in shares of Eversource Energy by 2.6% in the second quarter. Raymond James Trust N.A. now owns 4,803 shares of the utilities provider’s stock worth $405,000 after buying an additional 121 shares in the last quarter. Advisory Services Network LLC lifted its stake in shares of Eversource Energy by 5.9% in the second quarter. Advisory Services Network LLC now owns 2,307 shares of the utilities provider’s stock worth $195,000 after buying an additional 129 shares in the last quarter. Valmark Advisers Inc. increased its position in Eversource Energy by 1.6% during the first quarter. Valmark Advisers Inc. now owns 8,616 shares of the utilities provider’s stock worth $760,000 after purchasing an additional 133 shares during the last quarter. Finally, United Capital Financial Advisers LLC increased its position in 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. 78.40% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Trading Up 1.4 %

Shares of ES traded up $1.17 during trading on Thursday, reaching $82.18. 1,666,812 shares of the company traded hands, compared to its average volume of 1,679,936. Eversource Energy has a twelve month low of $70.54 and a twelve month high of $94.63. The stock has a market cap of $28.62 billion, a PE ratio of 20.49, a price-to-earnings-growth ratio of 3.18 and a beta of 0.47. The stock has a 50-day simple moving average of $78.54 and a 200-day simple moving average of $84.83. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 1.30.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 26th were issued a $0.6375 dividend. This represents a $2.55 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Friday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is currently 63.59%.

Analyst Upgrades and Downgrades

ES has been the subject of several recent analyst reports. Evercore ISI cut their price objective on shares of Eversource Energy to $91.00 in a research report on Tuesday, August 9th. Credit Suisse Group raised their price objective on shares of Eversource Energy to $90.00 in a research report on Tuesday, August 9th. StockNews.com initiated coverage on shares of Eversource Energy in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Morgan Stanley raised their price objective on shares of Eversource Energy from $78.00 to $84.00 and gave the stock an “equal weight” rating in a research report on Friday, November 11th. Finally, Wolfe Research upgraded shares of Eversource Energy from a “peer perform” rating to an “outperform” rating and set a $96.00 price objective for the company in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $89.00.

Insider Activity at Eversource Energy

In related news, VP Gregory B. Butler sold 5,000 shares of Eversource Energy stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $91.33, for a total value of $456,650.00. Following the completion of the transaction, the vice president now owns 71,814 shares in the company, valued at $6,558,772.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.38% of the company’s stock.

Eversource Energy Company Profile

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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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