MV Capital Management Inc. Trims Stock Position in Eversource Energy (NYSE:ES)

MV Capital Management Inc. trimmed its holdings in Eversource Energy (NYSE:ES) by 28.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 560 shares of the utilities provider’s stock after selling 220 shares during the period. MV Capital Management Inc.’s holdings in Eversource Energy were worth $32,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted 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 purchasing an additional 1,387,072 shares during the period. State Street Corp raised its position in shares of Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after acquiring an additional 430,587 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Eversource Energy during the 3rd quarter worth about $808,783,000. Charles Schwab Investment Management Inc. grew its position in shares of Eversource Energy by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock valued at $570,500,000 after acquiring an additional 226,972 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Eversource Energy by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after acquiring an additional 268,588 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 value of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This trade 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 insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Scotiabank decreased their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Barclays cut their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Jefferies Financial Group cut their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $67.40.

Eversource Energy Trading Up 1.4 %

ES opened at $61.13 on Friday. The firm has a market capitalization of $22.44 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The company’s 50 day simple moving average is $60.28 and its two-hundred day simple moving average is $61.58. 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.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share 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%. Analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be given 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 annualized dividend and a yield of 4.92%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

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.