Rockland Trust Co. Lowers Position in Eversource Energy (NYSE:ES)

Rockland Trust Co. trimmed its position in shares of Eversource Energy (NYSE:ES - Free Report) by 45.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,468 shares of the utilities provider's stock after selling 6,202 shares during the period. Rockland Trust Co.'s holdings in Eversource Energy were worth $464,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Apollon Wealth Management LLC grew its holdings in shares of Eversource Energy by 19.4% in the fourth quarter. Apollon Wealth Management LLC now owns 9,312 shares of the utilities provider's stock valued at $535,000 after purchasing an additional 1,513 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Eversource Energy by 58.0% during the fourth quarter. Empowered Funds LLC now owns 14,830 shares of the utilities provider's stock worth $852,000 after buying an additional 5,441 shares during the period. Savant Capital LLC raised its holdings in Eversource Energy by 2.9% in the fourth quarter. Savant Capital LLC now owns 12,202 shares of the utilities provider's stock valued at $701,000 after acquiring an additional 347 shares in the last quarter. Hartford Investment Management Co. lifted its stake in Eversource Energy by 1.5% in the fourth quarter. Hartford Investment Management Co. now owns 22,516 shares of the utilities provider's stock worth $1,293,000 after acquiring an additional 335 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in Eversource Energy by 9.4% during the 4th quarter. Van ECK Associates Corp now owns 111,331 shares of the utilities provider's stock worth $6,393,000 after acquiring an additional 9,611 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

Shares of ES stock traded down $0.67 during mid-day trading on Friday, hitting $65.13. 1,750,663 shares of the stock were exchanged, compared to its average volume of 2,457,336. The stock's fifty day simple moving average is $61.31 and its two-hundred day simple moving average is $60.16. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The stock has a market capitalization of $23.93 billion, a price-to-earnings ratio of 28.19, a P/E/G ratio of 2.35 and a beta of 0.63.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting 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 return on equity of 10.99% and a net margin of 6.82%. The business's revenue was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. On average, analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be given 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 4.62%. Eversource Energy's dividend payout ratio (DPR) is 129.74%.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, the executive vice president now directly owns 10,988 shares in the company, valued at approximately $703,232. This trade represents a 19.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, BMO Capital Markets lifted their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.78.

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.