Eversource Energy (NYSE:ES) Stock Holdings Lowered by Amalgamated Bank

Amalgamated Bank reduced its holdings in Eversource Energy (NYSE:ES) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,372 shares of the utilities provider’s stock after selling 864 shares during the quarter. Amalgamated Bank’s holdings in Eversource Energy were worth $4,048,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Edgestream Partners L.P. bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $4,594,000. Dimensional Fund Advisors LP raised its holdings in shares of Eversource Energy by 10.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,323,319 shares of the utilities provider’s stock valued at $75,051,000 after acquiring an additional 121,663 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Eversource Energy by 397.6% during the second quarter. Brown Brothers Harriman & Co. now owns 5,981 shares of the utilities provider’s stock valued at $339,000 after acquiring an additional 4,779 shares during the period. Plato Investment Management Ltd raised its holdings in shares of Eversource Energy by 2.5% during the second quarter. Plato Investment Management Ltd now owns 97,271 shares of the utilities provider’s stock valued at $5,516,000 after acquiring an additional 2,339 shares during the period. Finally, Mystic Asset Management Inc. raised its holdings in shares of Eversource Energy by 5.7% during the second quarter. Mystic Asset Management Inc. now owns 9,275 shares of the utilities provider’s stock valued at $526,000 after acquiring an additional 500 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the firm’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 completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of the firm’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 completion of the transaction, the executive vice president now directly 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 available through this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was 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 of the company’s stock, valued at $591,596. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. 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 upped their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Barclays upped 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 note on Monday, July 22nd. Finally, BMO Capital Markets dropped their price objective on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a research note on Monday, August 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.93.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $67.14 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01. The firm has a fifty day moving average price of $65.64 and a two-hundred day moving average price of $61.36. The company has a market cap of $23.65 billion, a PE ratio of -56.90, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61.

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

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 23rd will be issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -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.