Eversource Energy (NYSE:ES) Stock Position Reduced by California Public Employees Retirement System

California Public Employees Retirement System lessened its position in shares of Eversource Energy (NYSE:ES) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,148,909 shares of the utilities provider’s stock after selling 14,095 shares during the period. California Public Employees Retirement System owned about 0.62% of Eversource Energy worth $132,631,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Eversource Energy in the 4th quarter worth approximately $323,000. Signaturefd LLC raised its stake in Eversource Energy by 7.5% during the 4th quarter. Signaturefd LLC now owns 12,384 shares of the utilities provider’s stock valued at $764,000 after acquiring an additional 864 shares in the last quarter. abrdn plc raised its stake in Eversource Energy by 21.3% during the 4th quarter. abrdn plc now owns 488,683 shares of the utilities provider’s stock valued at $30,162,000 after acquiring an additional 85,756 shares in the last quarter. Greenleaf Trust raised its stake in Eversource Energy by 11.8% during the 4th quarter. Greenleaf Trust now owns 9,509 shares of the utilities provider’s stock valued at $587,000 after acquiring an additional 1,007 shares in the last quarter. Finally, John G Ullman & Associates Inc. raised its stake in Eversource Energy by 3.5% during the 4th quarter. John G Ullman & Associates Inc. now owns 73,542 shares of the utilities provider’s stock valued at $4,539,000 after acquiring an additional 2,482 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Eversource Energy Stock Up 0.1 %

ES stock opened at $60.34 on Wednesday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $79.92. The business’s 50 day moving average is $58.81 and its 200-day moving average is $57.90. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the prior year, the company posted $0.92 earnings per share. The company’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, sell-side analysts expect that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were paid a $0.715 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a dividend yield of 4.74%. The ex-dividend date was Monday, March 4th. Eversource Energy’s dividend payout ratio is currently -226.98%.

Wall Street Analyst Weigh In

ES has been the topic of several recent analyst reports. Argus cut their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. StockNews.com upgraded Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. The Goldman Sachs Group started coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target on the stock. BMO Capital Markets lifted their price target on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Finally, Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $65.85.

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.