Nomura Asset Management Co. Ltd. Decreases Position in Eversource Energy (NYSE:ES)

Nomura Asset Management Co. Ltd. lowered its stake in shares of Eversource Energy (NYSE:ES) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 798,271 shares of the utilities provider’s stock after selling 8,965 shares during the period. Nomura Asset Management Co. Ltd. owned 0.23% of Eversource Energy worth $49,269,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its holdings in Eversource Energy by 4,500.0% in the 3rd quarter. Larson Financial Group LLC now owns 920 shares of the utilities provider’s stock worth $53,000 after buying an additional 900 shares during the period. Signaturefd LLC boosted its holdings in Eversource Energy by 78.8% in the 3rd quarter. Signaturefd LLC now owns 11,520 shares of the utilities provider’s stock worth $670,000 after buying an additional 5,076 shares during the period. NBC Securities Inc. bought a new position in Eversource Energy in the 3rd quarter worth approximately $405,000. Ieq Capital LLC boosted its holdings in Eversource Energy by 245.7% in the 3rd quarter. Ieq Capital LLC now owns 28,102 shares of the utilities provider’s stock worth $1,634,000 after buying an additional 19,972 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings in Eversource Energy by 10.8% in the 3rd quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider’s stock worth $26,168,000 after buying an additional 43,720 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy 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 sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy 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 sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES remained flat at $57.53 during trading hours on Friday. 2,058,925 shares of the company were exchanged, compared to its average volume of 2,045,341. The company has a market capitalization of $20.27 billion, a price-to-earnings ratio of -48.75, a price-to-earnings-growth ratio of 2.35 and a beta of 0.57. The firm’s 50-day moving average price is $59.61 and its 200-day moving average price is $58.78. Eversource Energy has a one year low of $52.03 and a one year high of $74.81. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The firm 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 earnings per share. The company’s revenue for the quarter was down 12.2% compared to the same quarter last year. Equities analysts anticipate that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s payout ratio is -242.37%.

Analyst Ratings Changes

Several research firms recently commented on ES. Scotiabank cut their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company raised their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Citigroup lifted their price objective on shares of 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 assumed coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective for the company. Finally, Argus dropped their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six 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 price target of $65.86.

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.