Wells Fargo & Company MN Sells 111,722 Shares of Eversource Energy (NYSE:ES)

Wells Fargo & Company MN cut its position in shares of Eversource Energy (NYSE:ES) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,058,123 shares of the utilities provider’s stock after selling 111,722 shares during the quarter. Wells Fargo & Company MN owned 0.29% of Eversource Energy worth $60,768,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ES. Kestra Investment Management LLC acquired a new position in shares of Eversource Energy in the 4th quarter valued at $29,000. Assetmark Inc. raised its position in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares in the last quarter. Venturi Wealth Management LLC raised its position in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares in the last quarter. OFI Invest Asset Management acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $35,000. Finally, UMB Bank n.a. grew its stake in shares of Eversource Energy by 38.4% in the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Transactions at Eversource Energy

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

Eversource Energy Price Performance

Eversource Energy stock opened at $54.30 on Wednesday. The business’s 50-day simple moving average is $60.55 and its 200 day simple moving average is $61.09. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 23.51, a P/E/G ratio of 2.35 and a beta of 0.58. Eversource Energy has a 12-month low of $53.66 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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, research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were paid a $0.7525 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.54%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is 130.30%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ES. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Sunday. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Wells Fargo & Company lowered their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Barclays cut their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, Scotiabank reduced their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $67.44.

About Eversource Energy

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.