Zimmer Partners LP Decreases Position in Eversource Energy (NYSE:ES)

Zimmer Partners LP lessened its holdings in Eversource Energy (NYSE:ES - Free Report) by 70.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,200 shares of the utilities provider's stock after selling 367,800 shares during the quarter. Zimmer Partners LP's holdings in Eversource Energy were worth $9,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its position in Eversource Energy by 10.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider's stock valued at $107,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. lifted its position in Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 197 shares during the period. Summit Trail Advisors LLC lifted its position in Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider's stock valued at $281,000 after purchasing an additional 216 shares during the period. Keybank National Association OH lifted its position in Eversource Energy by 2.6% during the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider's stock valued at $522,000 after purchasing an additional 233 shares during the period. Finally, Whittier Trust Co. lifted its position in Eversource Energy by 3.3% during the fourth quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider's stock valued at $444,000 after purchasing an additional 245 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Activity

In other news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares of the company's stock, valued at approximately $1,535,318.26. The trade was a 3.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

Eversource Energy Price Performance

NYSE ES opened at $63.56 on Tuesday. The company has a market capitalization of $23.35 billion, a PE ratio of 27.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The business's fifty day moving average is $59.66 and its 200 day moving average is $59.77. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Eversource Energy's quarterly revenue was up 23.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 earnings per share. Sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts recently weighed in on ES shares. BMO Capital Markets increased their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Jefferies Financial Group lowered their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. Barclays decreased their price target on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a research report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Finally, Scotiabank reduced their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.

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