Twinbeech Capital LP Sells 361,963 Shares of Eversource Energy (NYSE:ES)

Twinbeech Capital LP lowered its position in shares of Eversource Energy (NYSE:ES - Free Report) by 82.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 75,644 shares of the utilities provider's stock after selling 361,963 shares during the quarter. Twinbeech Capital LP's holdings in Eversource Energy were worth $4,344,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Eversource Energy by 38.6% in the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after purchasing an additional 4,585,232 shares during the last quarter. Norges Bank acquired a new stake in shares of Eversource Energy during the fourth quarter worth about $188,838,000. Amundi lifted its stake in Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock valued at $367,691,000 after buying an additional 1,579,818 shares in the last quarter. Vanguard Group Inc. lifted its position in Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares in the last quarter. Finally, Magellan Asset Management Ltd lifted its holdings in shares of Eversource Energy by 15.9% in the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after purchasing an additional 890,514 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

ES has been the topic of a number of recent research reports. BMO Capital Markets lifted their price objective 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. Jefferies Financial Group lowered their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. JPMorgan Chase & Co. restated an "underweight" rating and set a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Scotiabank decreased 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. Finally, Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy presently has an average rating of "Hold" and an average target price of $65.78.

Eversource Energy Stock Performance

Shares of NYSE ES traded up $0.39 during midday trading on Friday, hitting $63.45. 1,587,252 shares of the company's stock were exchanged, compared to its average volume of 2,429,382. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01. The company's 50 day moving average price is $59.85 and its 200 day moving average price is $59.83. 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 firm has a market capitalization of $23.31 billion, a PE ratio of 27.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting the consensus estimate 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 quarterly revenue was up 23.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.49 earnings per share. As a group, analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy's dividend payout ratio is 129.74%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president now owns 10,988 shares in the company, valued at $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 available at the SEC website. Company 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.