Valley Brook Capital Group Inc. Lowers Stock Holdings in Eversource Energy (NYSE:ES)

Valley Brook Capital Group Inc. lowered its holdings in shares of Eversource Energy (NYSE:ES) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,628 shares of the utilities provider’s stock after selling 562 shares during the quarter. Valley Brook Capital Group Inc.’s holdings in Eversource Energy were worth $471,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Argus decreased their target price 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. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. Citigroup raised their target price on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. StockNews.com upgraded Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Finally, Barclays cut their price target on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a report on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.23.

Insiders Place Their Bets

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the sale, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction 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 sale, 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. 0.41% of the stock is owned by insiders.

Eversource Energy Price Performance

Shares of NYSE:ES traded down $0.74 during midday trading on Friday, hitting $60.01. The company had a trading volume of 3,447,870 shares, compared to its average volume of 2,016,408. The business’s 50-day simple moving average is $59.17 and its 200-day simple moving average is $58.14. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The stock has a market cap of $21.05 billion, a price-to-earnings ratio of -50.86, a price-to-earnings-growth ratio of 3.21 and a beta of 0.57. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $77.97.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 earnings per share. On average, 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 announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be paid a dividend of $0.715 per share. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 4.77%. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

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.