Everence Capital Management Inc. Cuts Stock Position in Eversource Energy (NYSE:ES)

Everence Capital Management Inc. lowered its stake in Eversource Energy (NYSE:ES) by 19.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,210 shares of the utilities provider’s stock after selling 5,780 shares during the period. Everence Capital Management Inc.’s holdings in Eversource Energy were worth $1,433,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. United Capital Financial Advisers LLC increased its stake in Eversource Energy by 3.6% in the 1st quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock worth $342,000 after buying an additional 134 shares in the last quarter. Snowden Capital Advisors LLC increased its stake in Eversource Energy by 3.8% in the 1st quarter. Snowden Capital Advisors LLC now owns 4,101 shares of the utilities provider’s stock worth $321,000 after buying an additional 151 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in Eversource Energy by 1.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617 shares of the utilities provider’s stock worth $1,058,000 after buying an additional 162 shares in the last quarter. Czech National Bank increased its stake in Eversource Energy by 0.3% in the 4th quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock worth $3,776,000 after buying an additional 168 shares in the last quarter. Finally, Toroso Investments LLC increased its stake in Eversource Energy by 4.2% in the 1st quarter. Toroso Investments LLC now owns 4,484 shares of the utilities provider’s stock worth $351,000 after buying an additional 179 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Down 1.8 %

Shares of NYSE:ES opened at $57.20 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92. The company has a 50-day moving average price of $58.31 and a 200 day moving average price of $57.77.

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

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.86 annualized dividend and a yield of 5.00%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio (DPR) is presently -226.98%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ES. Argus cut their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Wells Fargo & Company raised their price objective on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $60.00 to $72.00 in a research report on Monday, January 22nd. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. Finally, Barclays cut their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus price target of $66.08.

Insiders Place Their Bets

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Faasen William C. Van sold 2,714 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $54.50, for a total value of $147,913.00. Following the completion of the sale, the insider now owns 19,619 shares in the company, valued at $1,069,235.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The disclosure for this sale can be found here. Insiders sold a total of 6,250 shares of company stock valued at $352,014 over the last 90 days. Insiders own 0.29% of the company’s stock.

Eversource Energy 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.