Eversource Energy (NYSE:ES) Shares Sold by Lindbrook Capital LLC

Lindbrook Capital LLC cut its stake in shares of Eversource Energy (NYSE:ES) by 14.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,274 shares of the utilities provider’s stock after selling 383 shares during the period. Lindbrook Capital LLC’s holdings in Eversource Energy were worth $140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Eversource Energy by 10.8% during the third quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider’s stock worth $26,168,000 after purchasing an additional 43,720 shares during the period. OLD Republic International Corp purchased a new position in shares of Eversource Energy in the third quarter valued at $27,283,000. Cerity Partners LLC raised its stake in shares of Eversource Energy by 536.0% during the 4th quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider’s stock worth $7,298,000 after buying an additional 99,652 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Eversource Energy by 3.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 443,444 shares of the utilities provider’s stock worth $27,369,000 after buying an additional 12,951 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Eversource Energy during the 4th quarter worth $1,302,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ES. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Argus cut their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Wells Fargo & Company boosted their target price on shares of Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. Finally, Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $60.00 to $72.00 in a research note on Monday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $65.85.

Insider Transactions at Eversource Energy

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the transaction, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Eversource Energy Stock Performance

ES opened at $60.34 on Wednesday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The business has a 50-day moving average of $58.81 and a two-hundred day moving average of $57.90. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). The business had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.92 EPS. Sell-side analysts anticipate that Eversource Energy will post 4.52 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.74%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s payout ratio is presently -226.98%.

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.