Alps Advisors Inc. Decreases Stock Position in Eversource Energy (NYSE:ES)

Alps Advisors Inc. lessened its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 393,533 shares of the utilities provider's stock after selling 13,482 shares during the quarter. Alps Advisors Inc. owned about 0.11% of Eversource Energy worth $24,442,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ES. Vanguard Group Inc. raised its position in Eversource Energy by 3.2% in 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 purchasing an additional 1,387,072 shares during the last quarter. Wellington Management Group LLP raised its position 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 valued at $945,893,000 after purchasing an additional 4,585,232 shares during the last quarter. Geode Capital Management LLC raised its position 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 valued at $547,550,000 after purchasing an additional 517,042 shares during the last quarter. FMR LLC raised its position in Eversource Energy by 4.8% in the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock valued at $422,259,000 after purchasing an additional 333,529 shares during the last quarter. Finally, Magellan Asset Management Ltd raised its position in Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after purchasing an additional 890,514 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

Shares of NYSE:ES traded down $0.42 on Friday, reaching $65.69. 1,605,848 shares of the company were exchanged, compared to its average volume of 2,493,292. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The firm has a market cap of $24.13 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.46 and a beta of 0.62. The company has a 50-day moving average of $63.82 and a 200-day moving average of $60.69.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting analysts' consensus estimates of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The business had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same period in the prior year, the company posted $1.49 EPS. The business's revenue for the quarter was up 23.6% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.58%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Wall Street Analyst Weigh In

Several research firms recently commented on ES. Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. BMO Capital Markets boosted their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of "Hold" and an average target price of $65.67.

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.