Insider Selling: Eversource Energy (NYSE:ES) Insider Sells 3,092 Shares of Stock

Eversource Energy (NYSE:ES) insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This 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 link.

Eversource Energy Trading Up 1.1 %

Shares of ES stock traded up $0.69 during mid-day trading on Thursday, reaching $63.39. 3,294,079 shares of the stock traded hands, compared to its average volume of 3,146,954. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 27.44, a price-to-earnings-growth ratio of 2.36 and a beta of 0.62. The stock’s fifty day simple moving average is $58.04 and its two-hundred day simple moving average is $62.55.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 11.04% and a net margin of 6.82%. On average, research analysts anticipate 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 will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s payout ratio is presently 130.30%.

Institutional Investors Weigh In On Eversource Energy

Hedge funds have recently added to or reduced their stakes in the company. Mizuho Bank Ltd. purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $26,000. Kestra Investment Management LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $29,000. Assetmark Inc. boosted 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 during the last quarter. Brooklyn Investment Group bought a new position in Eversource Energy in the 3rd quarter valued at $31,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy during the 3rd quarter valued at $32,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ES. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Thursday, February 13th. Scotiabank decreased their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group decreased their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Barclays reduced their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.45.

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.