Victory Capital Management Inc. Sells 80,627 Shares of Eversource Energy (NYSE:ES)

Victory Capital Management Inc. reduced its position in Eversource Energy (NYSE:ES) by 40.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 117,206 shares of the utilities provider’s stock after selling 80,627 shares during the quarter. Victory Capital Management Inc.’s holdings in Eversource Energy were worth $6,647,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Heritage Wealth Advisors acquired a new stake in Eversource Energy during the 4th quarter worth about $25,000. Lynx Investment Advisory bought a new stake in shares of Eversource Energy in the 2nd quarter valued at $25,000. Rise Advisors LLC acquired a new position in shares of Eversource Energy during the 1st quarter valued at $27,000. Versant Capital Management Inc boosted its stake in 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 acquiring an additional 201 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its holdings in Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on ES. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Wells Fargo & Company increased their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Bank of America lifted their price target on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Scotiabank raised their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Barclays increased their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. 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. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $68.93.

Eversource Energy Stock Performance

Shares of ES opened at $67.97 on Monday. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01. 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 has a market cap of $24.29 billion, a PE ratio of -57.60, a price-to-earnings-growth ratio of 2.59 and a beta of 0.61. The stock has a 50-day moving average price of $64.73 and a 200-day moving average price of $61.03.

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

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be given a $0.715 dividend. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.21%. Eversource Energy’s payout ratio is -242.37%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Eversource Energy Company 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.