Eversource Energy (NYSE:ES) Shares Sold by Legacy Wealth Management LLC MS

Legacy Wealth Management LLC MS reduced its holdings in Eversource Energy (NYSE:ES - Free Report) by 37.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,930 shares of the utilities provider's stock after selling 6,020 shares during the quarter. Legacy Wealth Management LLC MS's holdings in Eversource Energy were worth $617,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy during the 4th quarter valued at approximately $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy during the 4th quarter valued at approximately $29,000. Assetmark Inc. lifted its position in shares of Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 254 shares during the period. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy during the 4th quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC raised its holdings in Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after purchasing an additional 301 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Scotiabank reduced their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. 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 lifted 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, Wells Fargo & Company cut their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $65.78.

Eversource Energy Trading Up 1.2%

Shares of NYSE:ES traded up $0.79 during trading on Friday, reaching $64.88. The stock had a trading volume of 5,660,354 shares, compared to its average volume of 2,446,052. The business has a fifty day moving average price of $60.21 and a 200-day moving average price of $59.95. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a market cap of $23.84 billion, a P/E ratio of 28.09, a PEG ratio of 2.35 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01.

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, meeting the consensus estimate of $1.50. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Eversource Energy's revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.49 EPS. As a group, analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be paid 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 4.64%. Eversource Energy's payout ratio is currently 129.74%.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 10,988 shares of the company's stock, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

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.