Maryland State Retirement & Pension System Has $19.77 Million Position in Eversource Energy (NYSE:ES)

Maryland State Retirement & Pension System raised its stake in shares of Eversource Energy (NYSE:ES) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 320,316 shares of the utilities provider’s stock after buying an additional 4,036 shares during the period. Maryland State Retirement & Pension System’s holdings in Eversource Energy were worth $19,770,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Exchange Traded Concepts LLC bought a new position in Eversource Energy in the 4th quarter worth approximately $26,000. Bfsg LLC purchased a new stake in shares of Eversource Energy during the fourth quarter worth $31,000. Hexagon Capital Partners LLC lifted its position in shares of Eversource Energy by 84.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 272 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after acquiring an additional 206 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in shares of Eversource Energy during the fourth quarter worth $43,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now directly 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.

Eversource Energy Price Performance

Eversource Energy stock traded up $1.15 during mid-day trading on Tuesday, hitting $60.86. The stock had a trading volume of 1,067,043 shares, compared to its average volume of 2,865,062. The firm has a market capitalization of $21.35 billion, a P/E ratio of -50.60, a P/E/G ratio of 3.21 and a beta of 0.57. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The firm’s 50 day moving average is $59.21 and its 200 day moving average is $58.18. Eversource Energy has a one year low of $52.03 and a one year high of $77.92.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the company earned $1.41 EPS. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. On average, sell-side analysts forecast that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business 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. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 4.70%. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Wall Street Analyst Weigh In

ES has been the topic of several recent research reports. StockNews.com upgraded Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $72.00 in a research report on Monday, January 22nd. The Goldman Sachs Group started coverage on Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective on the stock. Argus lowered their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Finally, Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $66.23.

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.