Eversource Energy (NYSE:ES) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its position in Eversource Energy (NYSE:ES) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,979 shares of the utilities provider’s stock after selling 4,950 shares during the period. Amalgamated Bank’s holdings in Eversource Energy were worth $5,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Eversource Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock worth $404,856,000 after purchasing an additional 134,492 shares during the period. Legal & General Group Plc boosted its position in shares of Eversource Energy by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock worth $385,457,000 after purchasing an additional 163,053 shares during the period. Nordea Investment Management AB increased its holdings in Eversource Energy by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock valued at $388,509,000 after purchasing an additional 475,341 shares during the last quarter. Morgan Stanley lifted its stake in Eversource Energy by 19.3% during the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock worth $259,595,000 after purchasing an additional 723,318 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Eversource Energy by 2.7% during the third quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock worth $246,409,000 after buying an additional 111,294 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

ES has been the subject of several research reports. Argus dropped their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Citigroup lifted their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. The Goldman Sachs Group began coverage on Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective on the stock. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $60.00 to $72.00 in a report on Monday, January 22nd. Finally, Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $66.23.

Eversource Energy Stock Down 0.5 %

Shares of NYSE:ES opened at $59.71 on Tuesday. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.92. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. The firm’s 50-day simple moving average is $59.21 and its 200-day simple moving average is $58.18. The company has a market cap of $20.94 billion, a price-to-earnings ratio of -50.60, a PEG ratio of 3.21 and a beta of 0.57.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The firm’s revenue for the quarter was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.41 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.49 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.79%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s payout ratio is -242.37%.

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.