Eversource Energy (NYSE:ES) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd trimmed its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,447 shares of the utilities provider's stock after selling 34,935 shares during the period. USS Investment Management Ltd's holdings in Eversource Energy were worth $3,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mizuho Bank Ltd. acquired a new stake in Eversource Energy during the fourth quarter worth about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy during the fourth quarter valued at about $29,000. Assetmark Inc. boosted its stake in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 254 shares during the period. Venturi Wealth Management LLC lifted its stake in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after acquiring an additional 301 shares during the last quarter. Finally, CoreCap Advisors LLC increased its holdings in shares of Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 383 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 0.9%

Shares of NYSE:ES traded up $0.59 during mid-day trading on Thursday, hitting $63.96. 408,894 shares of the company traded hands, compared to its average volume of 2,422,982. The stock has a 50-day moving average price of $60.03 and a two-hundred day moving average price of $59.90. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The stock has a market cap of $23.50 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting the consensus estimate of $1.50. The business had revenue of $4.12 billion for 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 quarter in the previous year, the firm earned $1.49 earnings per share. On average, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy's payout ratio is currently 129.74%.

Analysts Set New Price Targets

ES has been the subject of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Scotiabank cut their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research note on Thursday, February 13th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. 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 research note on Monday, April 28th. Finally, Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Three research 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $65.78.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,988 shares in the company, valued at approximately $703,232. The trade was a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

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.