Intech Investment Management LLC Sells 24,858 Shares of Eversource Energy (NYSE:ES)

Intech Investment Management LLC decreased its stake in Eversource Energy (NYSE:ES) by 61.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,410 shares of the utilities provider’s stock after selling 24,858 shares during the period. Intech Investment Management LLC’s holdings in Eversource Energy were worth $885,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Eversource Energy by 1.7% during the 3rd quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after acquiring an additional 430,587 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy during the third quarter valued at about $808,783,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Eversource Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock valued at $570,500,000 after purchasing an additional 226,972 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Eversource Energy by 3.1% in the third quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after buying an additional 268,588 shares during the period. Finally, FMR LLC raised its holdings in Eversource Energy by 2.7% in the 3rd quarter. FMR LLC now owns 7,019,064 shares of the utilities provider’s stock valued at $477,647,000 after buying an additional 185,381 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

ES has been the topic of several analyst reports. Barclays reduced their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday. Wells Fargo & Company reduced their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Finally, Guggenheim restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $67.45.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Stock Down 1.0 %

Eversource Energy stock opened at $60.98 on Monday. The company has a market capitalization of $22.38 billion, a PE ratio of 26.40, a PEG ratio of 2.35 and a beta of 0.60. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. The firm’s fifty day moving average is $59.94 and its 200 day moving average is $61.80. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. As a group, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 4.94%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is presently 130.30%.

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.