TD Private Client Wealth LLC Reduces Stock Position in Eversource Energy (NYSE:ES)

TD Private Client Wealth LLC cut its stake in Eversource Energy (NYSE:ES) by 15.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,399 shares of the utilities provider’s stock after selling 265 shares during the quarter. TD Private Client Wealth LLC’s holdings in Eversource Energy were worth $80,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in Eversource Energy in the 4th quarter worth about $29,000. Assetmark Inc. boosted its position in shares of Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares during the period. Brooklyn Investment Group bought a new position in shares of Eversource Energy in the third quarter valued at approximately $31,000. Venturi Wealth Management LLC grew its stake in Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 301 shares in the last quarter. Finally, OFI Invest Asset Management bought a new stake in Eversource Energy during the 4th quarter worth approximately $35,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Down 3.1 %

Shares of ES opened at $59.00 on Wednesday. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a 50 day simple moving average of $60.10 and a two-hundred day simple moving average of $61.69. The firm has a market cap of $21.66 billion, a P/E ratio of 25.54, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ES. Scotiabank reduced their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 21st. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Barclays cut their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.40.

Insider Transactions at Eversource Energy

In other news, 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 transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.