State of New Jersey Common Pension Fund D Decreases Position in Eversource Energy (NYSE:ES)

State of New Jersey Common Pension Fund D lowered its stake in shares of Eversource Energy (NYSE:ES) by 32.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,611 shares of the utilities provider’s stock after selling 61,095 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Eversource Energy were worth $7,237,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in Eversource Energy by 24.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock valued at $4,232,000 after buying an additional 13,950 shares in the last quarter. Banque Cantonale Vaudoise grew its stake in Eversource Energy by 38.3% in the 1st quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock valued at $3,394,000 after buying an additional 15,714 shares in the last quarter. Great Oak Capital Partners LLC purchased a new position in Eversource Energy in the 4th quarter valued at approximately $1,047,000. Cibc World Markets Corp grew its stake in Eversource Energy by 133.3% in the 4th quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock valued at $2,775,000 after buying an additional 25,688 shares in the last quarter. Finally, Ethic Inc. grew its stake in Eversource Energy by 23.1% in the 4th quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock valued at $10,167,000 after buying an additional 30,890 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on ES. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, August 19th. Scotiabank boosted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Barclays boosted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Wells Fargo & Company boosted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Bank of America lifted their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $68.93.

Eversource Energy Stock Performance

Eversource Energy stock opened at $67.97 on Monday. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $24.29 billion, a PE ratio of -57.60, a P/E/G ratio of 2.59 and a beta of 0.61. The firm has a fifty day simple moving average of $64.73 and a two-hundred day simple moving average of $61.03. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.00 earnings per share. Research analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.21%. The ex-dividend date is Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Insider Activity

In related news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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.