Kentucky Retirement Systems Insurance Trust Fund Sells 917 Shares of Eversource Energy (NYSE:ES)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in Eversource Energy (NYSE:ES) by 7.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,528 shares of the utilities provider’s stock after selling 917 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Eversource Energy were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy in the fourth quarter worth $25,000. Rise Advisors LLC acquired a new position in Eversource Energy during the 1st quarter valued at $27,000. Bfsg LLC acquired a new position in Eversource Energy during the 4th quarter valued at $31,000. Versant Capital Management Inc raised its stake in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its stake in shares of Eversource Energy by 49.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Trading Up 1.4 %

Shares of NYSE:ES traded up $0.90 during mid-day trading on Friday, reaching $64.50. The stock had a trading volume of 3,160,970 shares, compared to its average volume of 1,883,371. The firm has a market cap of $22.72 billion, a PE ratio of -54.66, a price-to-earnings-growth ratio of 2.46 and a beta of 0.59. The firm has a 50 day simple moving average of $58.93 and a two-hundred day simple moving average of $58.42. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $73.87.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results 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 business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. Eversource Energy’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same period last year, the company posted $1.41 EPS. On average, research analysts predict that Eversource Energy will post 4.57 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

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

Insider Transactions at Eversource Energy

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

Wall Street Analyst Weigh In

ES has been the subject of a number of recent research reports. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective for the company in a research note on Tuesday, June 25th. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday. Wells Fargo & Company upped their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, BMO Capital Markets upped their target price on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $66.43.

Eversource Energy 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.