Eversource Energy (NYSE:ES) Shares Sold by ClearBridge Investments Ltd

ClearBridge Investments Ltd lessened its stake in Eversource Energy (NYSE:ES) by 14.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,243,822 shares of the utilities provider’s stock after selling 367,747 shares during the period. Eversource Energy accounts for approximately 3.7% of ClearBridge Investments Ltd’s portfolio, making the stock its 12th largest position. ClearBridge Investments Ltd owned approximately 0.64% of Eversource Energy worth $127,247,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Heritage Wealth Advisors purchased a new stake in Eversource Energy in the 4th quarter valued at $25,000. Lynx Investment Advisory purchased a new stake in shares of Eversource Energy in the second quarter valued at about $25,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy during the first quarter worth about $27,000. Versant Capital Management Inc grew its holdings in shares of Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings 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 worth $33,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays lifted their target price on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. BMO Capital Markets reduced their target price 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. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Wells Fargo & Company increased their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $68.93.

Eversource Energy Price Performance

ES opened at $67.14 on Monday. The company’s 50 day simple moving average is $65.64 and its 200 day simple moving average is $61.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The stock has a market capitalization of $23.65 billion, a PE ratio of -56.90, a P/E/G ratio of 2.59 and a beta of 0.61.

Eversource Energy (NYSE:ES) last posted 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 business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.00 earnings per share. As a group, sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Dividend Announcement

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

Insider Activity

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

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.