Eversource Energy $ES Shares Sold by Wedbush Securities Inc.

Wedbush Securities Inc. reduced its stake in Eversource Energy (NYSE:ES) by 36.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,703 shares of the utilities provider’s stock after selling 2,079 shares during the period. Wedbush Securities Inc.’s holdings in Eversource Energy were worth $236,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. CWM LLC lifted its holdings in shares of Eversource Energy by 14.8% in the 1st quarter. CWM LLC now owns 41,257 shares of the utilities provider’s stock valued at $2,562,000 after purchasing an additional 5,330 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Eversource Energy by 3.5% in the first quarter. Apollon Wealth Management LLC now owns 9,642 shares of the utilities provider’s stock valued at $599,000 after purchasing an additional 330 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Eversource Energy by 106.9% during the first quarter. Victory Capital Management Inc. now owns 446,122 shares of the utilities provider’s stock worth $27,709,000 after buying an additional 230,461 shares during the last quarter. Retirement Planning Co of New England Inc. raised its stake in Eversource Energy by 293.7% during the 1st quarter. Retirement Planning Co of New England Inc. now owns 15,619 shares of the utilities provider’s stock valued at $970,000 after acquiring an additional 11,652 shares during the last quarter. Finally, Vienna Powszechne Towarzystwo Emerytalne S.A. Vienna Insurance Group purchased a new position in shares of Eversource Energy in the 1st quarter valued at approximately $1,215,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president directly owned 32,415 shares in the company, valued at $2,358,839.55. This trade represents a 11.30% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Loretta D. Keane bought 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The SEC filing for this purchase provides additional information. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Wells Fargo & Company initiated coverage on Eversource Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price target on the stock. Mizuho raised their target price on Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Jefferies Financial Group upped their price target on shares of Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 22nd. Finally, Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Four analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $72.70.

Eversource Energy Stock Up 0.0%

ES stock opened at $73.63 on Friday. The company has a 50 day moving average price of $70.58 and a two-hundred day moving average price of $66.41. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The stock has a market capitalization of $27.63 billion, a P/E ratio of 20.17, a PEG ratio of 2.64 and a beta of 0.69. Eversource Energy has a one year low of $52.28 and a one year high of $75.25.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.13 earnings per share. As a group, sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s payout ratio is currently 82.47%.

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.