Vaughan David Investments LLC IL Sells 2,389 Shares of Eversource Energy (NYSE:ES)

Vaughan David Investments LLC IL lowered its stake in shares of Eversource Energy (NYSE:ES) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,888 shares of the utilities provider’s stock after selling 2,389 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Eversource Energy were worth $3,784,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in shares of Eversource Energy by 135.2% in the third quarter. Blue Trust Inc. now owns 2,347 shares of the utilities provider’s stock valued at $160,000 after acquiring an additional 1,349 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Eversource Energy by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 110,739 shares of the utilities provider’s stock worth $7,536,000 after purchasing an additional 512 shares during the period. Louisiana State Employees Retirement System lifted its position in Eversource Energy by 1.0% in the third quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider’s stock worth $1,368,000 after purchasing an additional 200 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Eversource Energy by 26.9% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,250 shares of the utilities provider’s stock worth $2,042,000 after purchasing an additional 6,409 shares during the period. Finally, Forsta AP Fonden lifted its position in Eversource Energy by 1.5% in the third quarter. Forsta AP Fonden now owns 94,600 shares of the utilities provider’s stock worth $6,438,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Down 0.6 %

NYSE:ES opened at $62.96 on Tuesday. The stock has a market capitalization of $23.09 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.62. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The firm’s 50 day moving average is $58.29 and its 200 day moving average is $62.49. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid 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 4.78%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

Wall Street Analyst Weigh In

ES has been the subject of several research reports. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Wells Fargo & Company reduced their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. 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 report on Tuesday, January 28th. Barclays cut their price objective 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. Finally, 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 report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $67.45.

Insider Activity

In other 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 transaction of $61,730.20. Following the sale, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.