Eversource Energy (NYSE:ES) Shares Sold by Cadence Wealth Management LLC

Cadence Wealth Management LLC trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 12.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,521 shares of the utilities provider’s stock after selling 479 shares during the period. Cadence Wealth Management LLC’s holdings in Eversource Energy were worth $217,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of ES. Exchange Traded Concepts LLC acquired a new position in Eversource Energy during the 4th quarter valued at about $26,000. Bfsg LLC acquired a new position in Eversource Energy during the 4th quarter valued at about $31,000. UMB Bank n.a. increased its stake in Eversource Energy by 130.9% during the 3rd quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after buying an additional 364 shares during the period. MV Capital Management Inc. increased its stake in Eversource Energy by 40.4% during the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after buying an additional 206 shares during the period. Finally, CVA Family Office LLC acquired a new position in Eversource Energy during the 4th quarter valued at about $43,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ES has been the topic of several research analyst reports. UBS Group raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Argus reduced their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. BMO Capital Markets raised their price objective on shares of Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group started coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $65.85.

Eversource Energy Trading Down 1.8 %

Shares of ES traded down $1.06 during midday trading on Friday, hitting $59.46. The stock had a trading volume of 1,590,695 shares, compared to its average volume of 1,747,319. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $78.64. The business has a 50-day simple moving average of $58.94 and a two-hundred day simple moving average of $57.94. The firm has a market cap of $20.85 billion, a P/E ratio of -47.19, a price-to-earnings-growth ratio of 3.16 and a beta of 0.58. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the business earned $0.92 earnings per share. The business’s quarterly revenue was down 11.1% compared to the same quarter last year. As a group, equities analysts forecast that Eversource Energy will post 4.51 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.81%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s dividend payout ratio is -226.98%.

Insider Transactions at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. 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.