Eversource Energy (NYSE:ES) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 15.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,507,337 shares of the utilities provider's stock after selling 268,784 shares during the period. Bank of America Corp DE owned approximately 0.41% of Eversource Energy worth $86,566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares during the period. Wellington Management Group LLP boosted its holdings in Eversource Energy by 38.6% in the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after buying an additional 4,585,232 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Eversource Energy by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider's stock worth $570,500,000 after buying an additional 226,972 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Eversource Energy by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock worth $547,550,000 after buying an additional 517,042 shares during the last quarter. Finally, FMR LLC boosted its holdings in Eversource Energy by 4.8% in the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock worth $422,259,000 after buying an additional 333,529 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ES shares. Barclays lowered their price objective on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. Wells Fargo & Company lowered their price objective on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. BMO Capital Markets lifted their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Tuesday, May 6th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eversource Energy currently has an average rating of "Hold" and an average target price of $65.78.

Eversource Energy Trading Up 1.6%

Shares of ES stock traded up $0.97 during trading on Thursday, hitting $62.32. 2,942,738 shares of the stock traded hands, compared to its average volume of 2,416,093. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The firm's fifty day moving average price is $59.51 and its 200-day moving average price is $59.89. The firm has a market capitalization of $22.90 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm earned $1.49 EPS. The firm's revenue for the quarter was up 23.6% on a year-over-year basis. As a group, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.83%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Insider Activity at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the business's stock in a transaction 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 transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company's stock, valued at approximately $1,411,496.46. This trade represents a 12.00% decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

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.