Eversource Energy (NYSE:ES) Shares Sold by Summit Investment Advisors Inc.

Summit Investment Advisors Inc. reduced its stake in Eversource Energy (NYSE:ES) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,876 shares of the utilities provider’s stock after selling 244 shares during the period. Summit Investment Advisors Inc.’s holdings in Eversource Energy were worth $797,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ES. Vanguard Group Inc. raised its stake in shares of Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares during the period. Wellington Management Group LLP raised its position in Eversource Energy by 38.6% in the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock valued at $945,893,000 after purchasing an additional 4,585,232 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 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 worth $570,500,000 after purchasing an additional 226,972 shares in the last quarter. Geode Capital Management LLC lifted its stake in Eversource Energy by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider’s stock worth $547,550,000 after purchasing an additional 517,042 shares in the last quarter. Finally, FMR LLC grew its stake in shares of Eversource Energy by 4.8% in the fourth quarter. FMR LLC now owns 7,352,593 shares of the utilities provider’s stock valued at $422,259,000 after buying an additional 333,529 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ES shares. JPMorgan Chase & Co. restated an “underweight” rating and set a $58.00 target price (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Monday. Jefferies Financial Group reduced their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, Barclays cut their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $65.78.

Eversource Energy Trading Down 1.2 %

Shares of Eversource Energy stock opened at $57.38 on Friday. The company has a fifty day simple moving average of $60.30 and a 200-day simple moving average of $60.63. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a market cap of $21.06 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 2.35 and a beta of 0.58.

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

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.25%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. Eversource Energy’s payout ratio is presently 130.30%.

Insider Activity at Eversource Energy

In other 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 value of $192,507.92. Following the transaction, the insider now 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 ownership of the stock. The transaction 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 stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. 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.