Epoch Investment Partners Inc. Lowers Stake in Eversource Energy (NYSE:ES)

Epoch Investment Partners Inc. lessened its stake in Eversource Energy (NYSE:ES) by 2.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 25,025 shares of the utilities provider’s stock after selling 519 shares during the period. Epoch Investment Partners Inc.’s holdings in Eversource Energy were worth $1,496,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ClearBridge Investments Ltd acquired a new stake in shares of Eversource Energy in the first quarter valued at $156,093,000. Norges Bank purchased a new stake in Eversource Energy during the fourth quarter worth about $149,906,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares in the last quarter. M&G Plc acquired a new stake in shares of Eversource Energy during the first quarter worth about $83,539,000. Finally, Clean Energy Transition LLP purchased a new position in shares of Eversource Energy in the fourth quarter valued at approximately $40,181,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE ES opened at $64.50 on Monday. The business’s 50-day moving average price is $58.93 and its 200 day moving average price is $58.42. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The firm has a market cap of $22.72 billion, a P/E ratio of -54.66, a P/E/G ratio of 2.46 and a beta of 0.60. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $73.87.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the business posted $1.41 EPS. The company’s revenue was down 12.2% on a year-over-year basis. On average, equities research analysts expect that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, May 16th were given a dividend of $0.715 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.43%. Eversource Energy’s payout ratio is currently -242.37%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at approximately $603,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares in the company, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ES. Scotiabank reduced their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. BMO Capital Markets lifted their price target on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Bank of America raised Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research report on Tuesday, June 25th. Finally, StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $66.43.

About Eversource Energy

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.