Eversource Energy (NYSE:ES) Shares Sold by Code Waechter LLC

Code Waechter LLC lessened its holdings in Eversource Energy (NYSE:ES - Free Report) by 53.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,331 shares of the utilities provider's stock after selling 8,275 shares during the quarter. Code Waechter LLC's holdings in Eversource Energy were worth $455,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in Eversource Energy by 105.6% in the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after acquiring an additional 2,374 shares in the last quarter. LSV Asset Management purchased a new position in shares of Eversource Energy in the fourth quarter worth about $2,223,000. Golden State Wealth Management LLC raised its stake in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after purchasing an additional 580 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Eversource Energy by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock worth $90,146,000 after purchasing an additional 151,562 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Eversource Energy by 9.4% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider's stock worth $31,455,000 after purchasing an additional 47,189 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Mizuho raised their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. JPMorgan Chase & Co. restated 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. BMO Capital Markets boosted their price objective on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Finally, Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned 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 price target of $65.67.

Insider Activity

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at approximately $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Trading Down 0.6%

Shares of ES stock traded down $0.42 on Friday, hitting $65.69. The stock had a trading volume of 1,605,848 shares, compared to its average volume of 2,493,292. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The firm has a market capitalization of $24.13 billion, a P/E ratio of 28.31, a P/E/G ratio of 2.46 and a beta of 0.62. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The company's 50 day moving average price is $63.82 and its 200-day moving average price is $60.69.

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

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were given a dividend of $0.7525 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.58%. Eversource Energy's dividend payout ratio is currently 129.74%.

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.