Prudential PLC Reduces Stake in Eversource Energy (NYSE:ES)

Prudential PLC lowered its stake in Eversource Energy (NYSE:ESFree Report) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,600 shares of the utilities provider’s stock after selling 5,989 shares during the period. Prudential PLC’s holdings in Eversource Energy were worth $5,468,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Heritage Wealth Advisors purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $25,000. Exchange Traded Concepts LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $26,000. Bfsg LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC boosted its position in shares of Eversource Energy by 84.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock valued at $37,000 after buying an additional 272 shares during the period. Finally, CVA Family Office LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ES. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. The Goldman Sachs Group started coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective for the company. 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 note on Monday, March 25th. Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. Finally, Bank of America boosted their price objective on shares of Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.07.

View Our Latest Stock Analysis on Eversource Energy

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the sale, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares in the company, valued at $603,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES traded down $0.25 during mid-day trading on Friday, hitting $58.58. The company’s stock had a trading volume of 1,944,468 shares, compared to its average volume of 1,915,851. The business’s fifty day moving average is $59.62 and its two-hundred day moving average is $58.93. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of -49.64, a PEG ratio of 2.40 and a beta of 0.60.

Eversource Energy (NYSE:ESGet Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period last year, the firm earned $1.41 EPS. The company’s quarterly revenue was down 12.2% on a year-over-year basis. Analysts anticipate that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

About Eversource Energy

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ESFree Report).

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.