Eversource Energy (NYSE:ES) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC cut its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 21.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 291,945 shares of the utilities provider's stock after selling 81,644 shares during the quarter. Los Angeles Capital Management LLC owned about 0.08% of Eversource Energy worth $18,133,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ES. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $220,000. Whittier Trust Co. raised its stake in shares of Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider's stock valued at $444,000 after acquiring an additional 245 shares during the period. Virtu Financial LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $1,257,000. Mizuho Securities USA LLC raised its stake in shares of Eversource Energy by 49.8% in the 4th quarter. Mizuho Securities USA LLC now owns 34,727 shares of the utilities provider's stock valued at $1,994,000 after acquiring an additional 11,552 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $20,416,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 value of $166,400.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ES has been the topic of several recent research reports. Mizuho upped their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Bank of America increased their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, BMO Capital Markets upped their target price 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. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $65.56.

Eversource Energy Stock Performance

NYSE:ES traded down $0.07 during trading hours on Thursday, reaching $66.31. 540,406 shares of the company's stock were exchanged, compared to its average volume of 2,755,859. The firm has a market capitalization of $24.36 billion, a price-to-earnings ratio of 28.58, a P/E/G ratio of 2.49 and a beta of 0.62. The company has a 50-day moving average of $64.44 and a 200 day moving average of $61.14. The company has a quick ratio of 0.66, a current ratio of 0.75 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 issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting analysts' consensus estimates of $1.50. The firm had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. Eversource Energy's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.49 EPS. Research analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.54%. The ex-dividend date was Thursday, May 15th. 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.