AlphaQuest LLC Reduces Holdings in Eversource Energy (NYSE:ES)

AlphaQuest LLC trimmed its position in shares of Eversource Energy (NYSE:ES) by 82.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 9,388 shares of the utilities provider’s stock after selling 44,920 shares during the quarter. AlphaQuest LLC’s holdings in Eversource Energy were worth $539,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ES. Brooklyn Investment Group bought a new stake in shares of Eversource Energy during the third quarter worth $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Eversource Energy during the third quarter worth $32,000. Kestra Investment Management LLC bought a new stake in shares of Eversource Energy during the fourth quarter worth $29,000. Assetmark Inc. raised its holdings in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays decreased their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, March 1st. Jefferies Financial Group decreased their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Scotiabank decreased their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Finally, Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $67.45.

Insider Transactions at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of the company’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 owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Shares of ES stock opened at $59.47 on Thursday. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The firm has a market capitalization of $21.81 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The stock’s 50-day simple moving average is $59.28 and its 200-day simple moving average is $62.13.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.06%. Eversource Energy’s payout ratio is presently 130.30%.

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.