Eversource Energy (NYSE:ES) Stake Cut by ClearBridge Investments Ltd

ClearBridge Investments Ltd lessened its holdings in shares of Eversource Energy (NYSE:ES) by 16.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,469,123 shares of the utilities provider’s stock after selling 283,693 shares during the quarter. Eversource Energy makes up 2.2% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 17th largest holding. ClearBridge Investments Ltd owned 0.40% of Eversource Energy worth $84,372,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after acquiring an additional 9,981 shares in the last quarter. Verity & Verity LLC purchased a new stake in shares of Eversource Energy during the 4th quarter worth about $744,000. Nordea Investment Management AB raised its stake in shares of Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares in the last quarter. Everett Harris & Co. CA lifted its holdings in shares of Eversource Energy by 125.2% during the 4th quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock valued at $465,000 after buying an additional 4,500 shares during the last quarter. Finally, Soltis Investment Advisors LLC bought a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $3,616,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $61.13 on Friday. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.35 and a beta of 0.60. The firm’s 50-day moving average is $60.28 and its 200-day moving average is $61.58. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES) last issued its earnings results 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 10.99% and a net margin of 6.82%. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.92%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Scotiabank reduced their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Barclays cut their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group cut their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $67.40.

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This represents a 3.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

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.