Eversource Energy (NYSE:ES) Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 2.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,401,585 shares of the utilities provider's stock after selling 67,259 shares during the quarter. Royal Bank of Canada owned about 0.66% of Eversource Energy worth $137,923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ES. Mizuho Bank Ltd. purchased a new stake in shares of Eversource Energy in the fourth quarter valued at about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy during the 4th quarter worth approximately $29,000. Assetmark Inc. increased its holdings in shares of Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after buying an additional 254 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock valued at $34,000 after buying an additional 301 shares during the period. Finally, OFI Invest Asset Management acquired a new position in Eversource Energy in the fourth quarter valued at approximately $35,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Up 0.5%

ES stock traded up $0.33 during trading on Friday, hitting $63.39. 750,611 shares of the company's stock were exchanged, compared to its average volume of 2,423,616. The stock has a market capitalization of $23.29 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 2.35 and a beta of 0.61. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The business has a 50-day moving average price of $59.85 and a two-hundred day moving average price of $59.83.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company's revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted $1.49 EPS. As a group, equities research analysts expect 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 will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy's dividend payout ratio is currently 129.74%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ES shares. BMO Capital Markets raised their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. reissued an "underweight" rating and set 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 raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $65.78.

Insiders Place Their Bets

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 currently owned by insiders.

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.