Webster Bank N. A. Cuts Holdings in Eversource Energy (NYSE:ES)

Webster Bank N. A. trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 43.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,008 shares of the utilities provider’s stock after selling 760 shares during the quarter. Webster Bank N. A.’s holdings in Eversource Energy were worth $60,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. AMF Tjanstepension AB raised its stake in shares of Eversource Energy by 219.3% during the first quarter. AMF Tjanstepension AB now owns 509,846 shares of the utilities provider’s stock valued at $30,528,000 after acquiring an additional 350,167 shares in the last quarter. Mcdonald Partners LLC raised its position in Eversource Energy by 8.8% during the 1st quarter. Mcdonald Partners LLC now owns 11,756 shares of the utilities provider’s stock valued at $703,000 after purchasing an additional 950 shares in the last quarter. Sound Income Strategies LLC lifted its holdings in shares of Eversource Energy by 30.9% in the 1st quarter. Sound Income Strategies LLC now owns 4,435 shares of the utilities provider’s stock worth $265,000 after buying an additional 1,046 shares during the period. Global Assets Advisory LLC bought a new position in shares of Eversource Energy during the 1st quarter worth $2,520,000. Finally, Salem Investment Counselors Inc. increased its stake in shares of Eversource Energy by 49.7% during the first 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 during the period. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ES shares. Argus dropped their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective for the company. Morgan Stanley cut their price target on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. StockNews.com upgraded Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Finally, Wells Fargo & Company lifted their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $65.86.

Insider Activity

In related news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction 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 in the company, valued at $3,586,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred 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 approximately $603,480. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction 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 owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

ES opened at $56.71 on Friday. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. The firm’s 50-day moving average price is $59.35 and its 200-day moving average price is $58.72.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company posted $1.41 earnings per share. The company’s revenue for the quarter was down 12.2% compared to the same quarter last year. Analysts predict that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, May 16th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 5.04%. The ex-dividend date was Wednesday, May 15th. Eversource Energy’s payout ratio 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.