Two Sigma Investments LP Sells 27,691 Shares of Eversource Energy (NYSE:ES)

Two Sigma Investments LP cut its stake in Eversource Energy (NYSE:ES - Free Report) by 31.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 60,145 shares of the utilities provider's stock after selling 27,691 shares during the quarter. Two Sigma Investments LP's holdings in Eversource Energy were worth $3,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. increased its position in 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 worth $2,306,000 after buying an additional 9,981 shares during the last quarter. Everett Harris & Co. CA increased its position in Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider's stock worth $465,000 after buying an additional 4,500 shares during the last quarter. Boston Trust Walden Corp increased its position in Eversource Energy by 3.0% during the fourth quarter. Boston Trust Walden Corp now owns 1,002,004 shares of the utilities provider's stock worth $57,545,000 after buying an additional 28,725 shares during the last quarter. Savant Capital LLC increased its position in Eversource Energy by 2.9% during the fourth quarter. Savant Capital LLC now owns 12,202 shares of the utilities provider's stock worth $701,000 after buying an additional 347 shares during the last quarter. Finally, LSV Asset Management acquired a new position in Eversource Energy during the fourth quarter worth $2,223,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Price Performance

ES traded up $0.41 during midday trading on Tuesday, reaching $65.33. 2,928,022 shares of the company's stock were exchanged, compared to its average volume of 2,437,837. The firm has a market capitalization of $24.00 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The business has a 50-day simple moving average of $60.41 and a two-hundred day simple moving average of $59.99.

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

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio is presently 129.74%.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president now directly owns 10,988 shares of the company's stock, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ES shares. Wells Fargo & Company decreased their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. BMO Capital Markets upped their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Scotiabank decreased their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. Guggenheim restated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $65.78.

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.