iSAM Funds UK Ltd Cuts Stake in Eversource Energy (NYSE:ES)

iSAM Funds UK Ltd lessened its stake in shares of Eversource Energy (NYSE:ES) by 22.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,981 shares of the utilities provider’s stock after selling 2,594 shares during the quarter. iSAM Funds UK Ltd’s holdings in Eversource Energy were worth $516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after purchasing an additional 1,387,072 shares during the period. Wellington Management Group LLP raised its holdings in shares of Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock valued at $945,893,000 after acquiring an additional 4,585,232 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Eversource Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock valued at $570,500,000 after acquiring an additional 226,972 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Eversource Energy by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider’s stock valued at $547,550,000 after acquiring an additional 517,042 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Eversource Energy by 4.8% during the fourth quarter. FMR LLC now owns 7,352,593 shares of the utilities provider’s stock valued at $422,259,000 after acquiring an additional 333,529 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES opened at $63.56 on Tuesday. The stock has a fifty day simple moving average of $59.66 and a two-hundred day simple moving average of $59.77. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a market cap of $23.35 billion, a price-to-earnings ratio of 27.52, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the company earned $1.49 earnings per share. The company’s revenue was up 23.6% on a year-over-year basis. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.7525 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.74%. Eversource Energy’s payout ratio is presently 129.74%.

Insider Activity

In related news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This trade represents a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Guggenheim restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Barclays decreased their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. BMO Capital Markets upped their target price on Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a report on Monday, April 28th. Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group decreased their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $65.78.

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.