MV Capital Management Inc. Decreases Stock Holdings in Eversource Energy (NYSE:ES)

MV Capital Management Inc. reduced its position in shares of Eversource Energy (NYSE:ES) by 28.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 560 shares of the utilities provider’s stock after selling 220 shares during the quarter. MV Capital Management Inc.’s holdings in Eversource Energy were worth $32,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC raised its position in Eversource Energy by 10.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 176 shares during the period. UMB Bank n.a. raised its holdings in Eversource Energy by 38.4% during the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after buying an additional 197 shares during the period. Summit Trail Advisors LLC lifted its position in Eversource Energy by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after buying an additional 216 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Eversource Energy by 1.9% during the third quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock worth $837,000 after buying an additional 232 shares during the period. Finally, Keybank National Association OH boosted its stake in Eversource Energy by 2.6% during the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after buying an additional 233 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.4 %

NYSE ES opened at $61.13 on Friday. Eversource Energy has a one year low of $54.75 and a one year high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. The company 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 (NYSE:ES) last posted its earnings results 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%. Equities analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is currently 130.30%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ES shares. Barclays lowered 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 report on Wednesday, January 22nd. Wells Fargo & Company cut their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Scotiabank cut their price objective 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. Finally, Jefferies Financial Group lowered 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 analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $67.40.

Insider Activity

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred 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 sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.