Oak Thistle LLC Lowers Stock Holdings in Eversource Energy (NYSE:ES)

Oak Thistle LLC reduced its position in Eversource Energy (NYSE:ES) by 42.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,610 shares of the utilities provider’s stock after selling 4,840 shares during the quarter. Oak Thistle LLC’s holdings in Eversource Energy were worth $395,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Eversource Energy by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock valued at $448,567,000 after purchasing an additional 353,171 shares during the period. Legal & General Group Plc boosted its stake in shares of Eversource Energy by 2.5% in the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock valued at $385,457,000 after buying an additional 163,053 shares during the period. Nordea Investment Management AB grew its position in shares of Eversource Energy by 8.2% during the fourth quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock worth $388,509,000 after buying an additional 475,341 shares in the last quarter. Morgan Stanley increased its stake in shares of Eversource Energy by 19.3% during the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock worth $259,595,000 after buying an additional 723,318 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Eversource Energy by 23.7% during the third quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock worth $213,005,000 after buying an additional 702,360 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ES shares. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Wells Fargo & Company boosted their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. The Goldman Sachs Group assumed coverage on Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 target price on the stock. Scotiabank decreased their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Finally, Bank of America upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective on the stock in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $65.86.

Insider Activity at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Eversource Energy Price Performance

ES stock opened at $56.56 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $19.92 billion, a P/E ratio of -47.93, a PEG ratio of 2.19 and a beta of 0.60. The business has a 50 day simple moving average of $59.35 and a 200-day simple moving average of $58.69. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $74.81.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the business earned $1.41 EPS. Eversource Energy’s quarterly revenue was down 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 16th were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date of this dividend was Wednesday, May 15th. Eversource Energy’s dividend payout ratio is currently -242.37%.

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.