Deutsche Bank AG Reduces Stock Holdings in Eversource Energy (NYSE:ES)

Deutsche Bank AG cut its position in shares of Eversource Energy (NYSE:ES) by 37.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,581,521 shares of the utilities provider’s stock after selling 947,091 shares during the period. Deutsche Bank AG owned approximately 0.43% of Eversource Energy worth $90,827,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mizuho Bank Ltd. purchased a new stake in Eversource Energy in the 4th quarter valued at about $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy during the fourth quarter valued at about $29,000. Assetmark Inc. raised its stake in shares of Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 301 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $35,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This trade represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. BMO Capital Markets lifted their price objective on Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. Wells Fargo & Company cut their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. Finally, Jefferies Financial Group dropped their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.78.

Eversource Energy Trading Up 0.4%

NYSE ES opened at $62.97 on Monday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The firm has a 50 day moving average of $59.35 and a two-hundred day moving average of $59.88. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $23.13 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting analysts’ consensus estimates of $1.50. The firm had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.49 earnings per share. As a group, research analysts expect that Eversource Energy will post 4.75 EPS 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. Shareholders of record on Thursday, May 15th will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.78%. Eversource Energy’s dividend payout ratio is currently 129.74%.

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.