Eversource Energy (NYSE:ES) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Eversource Energy (NYSE:ES - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,525,756 shares of the utilities provider's stock after selling 183,941 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.69% of Eversource Energy worth $156,875,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in shares of Eversource Energy by 105.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock valued at $287,000 after acquiring an additional 2,374 shares in the last quarter. LSV Asset Management purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $2,223,000. Golden State Wealth Management LLC lifted its position in shares of Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 580 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Eversource Energy by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock valued at $90,146,000 after acquiring an additional 151,562 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Eversource Energy by 9.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider's stock valued at $31,455,000 after acquiring an additional 47,189 shares in 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 firm'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 owned 10,988 shares in the company, valued at approximately $703,232. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

Eversource Energy Stock Down 0.2%

Eversource Energy stock opened at $64.40 on Tuesday. The company has a market capitalization of $23.66 billion, a P/E ratio of 27.76, a P/E/G ratio of 2.40 and a beta of 0.62. The firm's fifty day simple moving average is $63.33 and its 200-day simple moving average is $60.51. 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.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting analysts' consensus estimates of $1.50. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. Eversource Energy's revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 EPS. Sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were issued 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 4.67%. Eversource Energy's dividend payout ratio is currently 129.74%.

Wall Street Analyst Weigh In

ES has been the subject of several research analyst reports. 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. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. BMO Capital Markets increased their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $65.67.

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.

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