Vident Advisory LLC Grows Stock Holdings in Eversource Energy (NYSE:ES)

Vident Advisory LLC raised its holdings in Eversource Energy (NYSE:ES - Free Report) by 746.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,897 shares of the utilities provider's stock after purchasing an additional 30,775 shares during the period. Vident Advisory LLC's holdings in Eversource Energy were worth $2,004,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ES shares. Scotiabank decreased their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. BMO Capital Markets boosted their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.78.

Eversource Energy Price Performance

NYSE:ES traded up $0.93 during mid-day trading on Tuesday, hitting $64.39. 335,780 shares of the stock traded hands, compared to its average volume of 2,898,735. The business's 50-day moving average price is $59.92 and its 200 day moving average price is $59.84. The company has a market cap of $23.66 billion, a PE ratio of 27.88, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last issued 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 company had revenue of $4.12 billion during the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Eversource Energy's revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.49 earnings per share. On average, analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a $0.7525 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.67%. Eversource Energy's dividend payout ratio is presently 129.74%.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 2,600 shares of the company'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 now owns 10,988 shares of the company's stock, valued at approximately $703,232. This represents a 19.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company's stock.

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.