Cresset Asset Management LLC Sells 31,490 Shares of Eversource Energy (NYSE:ES)

Cresset Asset Management LLC lessened its stake in Eversource Energy (NYSE:ES - Free Report) by 87.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,569 shares of the utilities provider's stock after selling 31,490 shares during the period. Cresset Asset Management LLC's holdings in Eversource Energy were worth $262,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ES. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider's stock valued at $2,306,000 after acquiring an additional 9,981 shares during the last quarter. Verity & Verity LLC purchased a new stake in shares of Eversource Energy in the fourth quarter worth $744,000. Everett Harris & Co. CA increased its holdings in shares of Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider's stock valued at $465,000 after acquiring an additional 4,500 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Eversource Energy by 12.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider's stock worth $4,198,000 after purchasing an additional 7,967 shares during the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Eversource Energy by 3.0% in the 4th quarter. Boston Trust Walden Corp now owns 1,002,004 shares of the utilities provider's stock worth $57,545,000 after purchasing an additional 28,725 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Eversource Energy stock traded down $1.54 during mid-day trading on Wednesday, reaching $64.01. 2,674,625 shares of the stock traded hands, compared to its average volume of 2,425,394. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The business's 50-day moving average is $59.77 and its 200-day moving average is $59.81. 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 stock has a market capitalization of $23.52 billion, a PE ratio of 27.71, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

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

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy's dividend payout ratio is presently 129.74%.

Analysts Set New Price Targets

A number of analysts have weighed in on ES shares. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. BMO Capital Markets raised their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. 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 research report on Thursday, February 13th. StockNews.com raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research note on Tuesday, January 28th. Three research 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. According to data from MarketBeat, Eversource Energy has an average rating of "Hold" and an average price target of $65.78.

Insider Activity

In related news, VP Jay S. Buth sold 980 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. The trade was a 3.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.41% 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.