Eversource Energy (NYSE:ES) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its holdings in Eversource Energy (NYSE:ES) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 848,350 shares of the utilities provider’s stock after selling 32,400 shares during the quarter. Gabelli Funds LLC owned approximately 0.24% of Eversource Energy worth $48,110,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. D.A. Davidson & CO. increased its stake in Eversource Energy by 1.4% in the fourth quarter. D.A. Davidson & CO. now owns 20,055 shares of the utilities provider’s stock valued at $1,238,000 after purchasing an additional 268 shares during the period. EverSource Wealth Advisors LLC increased its position in Eversource Energy by 151.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,437 shares of the utilities provider’s stock valued at $89,000 after acquiring an additional 865 shares during the period. SageView Advisory Group LLC raised its stake in Eversource Energy by 9.4% during the 4th quarter. SageView Advisory Group LLC now owns 9,293 shares of the utilities provider’s stock valued at $574,000 after acquiring an additional 801 shares during the last quarter. Orion Portfolio Solutions LLC lifted its position in Eversource Energy by 2.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,613 shares of the utilities provider’s stock worth $667,000 after acquiring an additional 283 shares during the period. Finally, Congress Wealth Management LLC DE grew its stake in shares of Eversource Energy by 46.7% in the 4th quarter. Congress Wealth Management LLC DE now owns 5,063 shares of the utilities provider’s stock valued at $313,000 after purchasing an additional 1,611 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

NYSE:ES opened at $67.14 on Friday. The firm has a market cap of $23.65 billion, a price-to-earnings ratio of -56.90, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company’s 50-day moving average is $65.64 and its two-hundred day moving average is $61.34. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.00 EPS. Research analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.26%. Eversource Energy’s payout ratio is currently -242.37%.

Insider Transactions at Eversource Energy

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Scotiabank increased their price target on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Barclays raised their price objective 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. BMO Capital Markets cut their target price on 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. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, Wells Fargo & Company raised their target price on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $68.93.

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.